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202 Saint Nicholas Avenue, ...

EKT Equities Acquires Mixed-Use Property In Bushwick For $2.2M
SOLDMixed-use

EKT Equities Acquires Mixed-Use Property In Bushwick For $2.2M

202 Saint Nicholas Avenue, Brooklyn, New York 11237, United States

$2,200,000

$431/SF

Building Size

5,105 SF

Asset Type

Mixed-use

Closing

May 17, 2022

AI

Located in the vibrant neighborhood of Bushwick, the mixed-use property at 202 St. Nicholas Ave. has recently been sold in a closed transaction. The property, consisting of 5 residential units with ground floor retail, offers a unique investment opportunity. The sale, facilitated by EKT Equities, LLC represented by Ali Tabrizi, David Khaloyan, and Benjamin Esshaghian, marks the third successful transaction closed by the firm this month. The seller of the property is Domenica Klesin.

Summary of Transaction Details

  • Property Type: Mixed-use
  • Transaction Amount: $2,200,000
  • Square Footage: 5,105
  • Price per Square Foot: $430
  • Address: 202 St. Nicholas Ave., Bushwick

The sale price of $2,200,000 reflects the market value of this property, with 5,105 square feet of space available. EKT Equities, LLC, a prominent buyer in the market, has successfully closed this transaction. Ali Tabrizi, David Khaloyan, and Benjamin Esshaghian have represented the buyer's interests throughout the deal. This acquisition adds to EKT Equities, LLC's portfolio of successful investments in the area.

Players

Ali Tabrizi

EKT Equities, LLC

Buyer

$63.1M

vol

14 deals

Buyer

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

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93