Abe Betesh's Abeco Organization Acquires Mixed-use Property In Park Slope, Brooklyn For $3.75M
SOLD
$3,750,000
New York
See Similar DealsMixed-use6,370 SF
Sold 11/30/2020
SOLD
Abe Betesh's Abeco Organization Acquires Mixed-use Property In Park Slope, Brooklyn For $3.75M
198 5th Ave, Brooklyn, NY 11217, USA
See Similar DealsMixed-use6,370 SF
Sold 11/30/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$588
Total Square Footage:6,370 SF
Transaction Type:Sale
The mixed-use property located at 198-200 5th Avenue in Park Slope, Brooklyn has been sold in a closed off-market transaction. The property consists of 6,370 square feet and was sold for a total price of $3,750,000. The sale price per square foot was $588. The property also has a total buildable square footage of 13,110, resulting in a price per buildable square foot of $286.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,750,000
- Address: 198-200 5th Avenue, Park Slope, Brooklyn
- Square Footage: 6,370
- Price per Square Foot: $588
- Buildable Square Footage: 13,110
- Price per Buildable Square Foot: $286
The buyer of the property is Abe Betesh, representing The Abeco Organization. The seller of the property is Mark Gerbush. The transaction was facilitated by Michael Cleeman from Cleeman Realty Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$199,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,322.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,776.91
Annual Debt Service$213,322.96
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