Andy Li Acquires Mixed-use Property In Bensonhurst, Brooklyn For $1.76M
1959 86th St Brooklyn, NY 11214, USA
$1,760,000
$880/SF
Building Size
2,000 SF
Asset Type
Mixed-use
Closing
Aug 3, 2023
About this deal
AI
The mixed-use property located at 1959 86th Street in Bensonhurst, Brooklyn has been sold for a price of $1,760,000. The property spans 2,000 square feet, resulting in a price per square foot of $880. The sale was facilitated by brokers John Brennan and Miles Davis-Bosch from Marcus & Millichap.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,760,000
- Address: 1959 86th Street, Bensonhurst, Brooklyn
- Market: Bensonhurst, Brooklyn
- Buyer: Andy Li
- Seller: Meryl Baumgarten
- Brokers: John Brennan & Miles Davis-Bosch - Marcus & Millichap
- Square Footage: 2,000
- Price per Square Foot: $880
The deal was successfully closed with the assistance of John Brennan and Miles Davis-Bosch, who represented both the buyer and the seller in this transaction. Andy Li emerged as the buyer, while Meryl Baumgarten acted as the seller. The involvement of Marcus & Millichap as the brokerage firm highlights their expertise in facilitating property transactions in Bensonhurst, Brooklyn.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.01%
Cash-on-Cash
-2.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93