Flatbush Community Fund Acquires Mixed-Use Property From Morris Newman For $4.15M In Brooklyn
SOLD
$4,150,000
New York
See Similar DealsMixed-use15,000 SF
Sold 09/05/2024
SOLD
Flatbush Community Fund Acquires Mixed-Use Property From Morris Newman For $4.15M In Brooklyn
1860 Flatbush Avenue
See Similar DealsMixed-use15,000 SF
Sold 09/05/2024
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$276
Total Square Footage:15,000 SF
Transaction Type:Sale
The mixed-use property located at 1860 Flatbush Avenue in Brooklyn features a transaction price of $4,150,000. The asset encompasses 15,000 square feet, resulting in a price per square foot of $277.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,150,000
- Buyer: Flatbush Community Fund
- Seller: Morris Newman
- Broker: Josh Augenbaum - Augenbaum Realty
Josh Augenbaum represented the seller, Morris Newman, in this transaction, facilitating the sale to the Flatbush Community Fund. The deal adds to the portfolio of the buyer in the Brooklyn market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$221,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,744.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,673.12
Annual Debt Service$236,077.41
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