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2178 Pitkin Avenue, Brookly...

Updated Dec 19, 2023

David Horowitz Acquires Mixed-use Property In East New York, Brooklyn For $2.7M
SOLDMixed-use

David Horowitz Acquires Mixed-use Property In East New York, Brooklyn For $2.7M

2178 Pitkin Avenue, Brooklyn, New York 11207, United States

$2,700,000

$331/SF

Building Size

8,150 SF

Asset Type

Mixed-use

Closing

May 8, 2022

About this deal

AI

Located in East New York, Brooklyn, the mixed-use property at 2178-2182 Pitkin Ave. has been sold in a recent transaction. The property, spanning 8,150 square feet, was purchased by David Horowitz from Muhammad Andha. The sale, facilitated by Scott Plasky and Alex Arustamian of Plasky Retail Group, as well as Matthew Peters of Marcus & Millichap, concluded at a price of $2,700,000, resulting in a price per square foot of $331.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,700,000
  • Buyer: David Horowitz
  • Seller: Muhammad Andha
  • Brokers: Scott Plasky, Alex Arustamian - Plasky Retail Group; Matthew Peters - Marcus & Millichap
  • Address: 2178-2182 Pitkin Ave.
  • Market: East New York, Brooklyn
  • Square Footage: 8,150
  • Price per Square Foot: $331

The successful transaction was led by David Horowitz as the buyer, while Muhammad Andha acted as the seller. Brokers involved in the deal included Scott Plasky and Alex Arustamian from Plasky Retail Group, as well as Matthew Peters from Marcus & Millichap. This sale represents an opportunity for the new owner to capitalize on the property's prime location and mixed-use potential.

Players

Matthew Peters

Marcus & Millichap

Broker

$159.6M

vol

28 deals

Broker
Scott Plasky
Verified Badge

Scott Plasky

Marcus & Millichap

Broker

$411.1M

vol

80 deals

Broker

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $331 per square foot on a published $2.7M for 8,150 square feet (2022).

Visit Alexander (Alex) Arustamian to view all their deals.

Browse New York mixed use sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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