Jake Gao Acquires Mixed-Use Property In Bedford-Stuyvesant From Steve Seiden
SOLD
$1,850,000
New York
See Similar DealsMixed-use6,760 SF
Sold 06/09/2022
SOLD
Jake Gao Acquires Mixed-Use Property In Bedford-Stuyvesant From Steve Seiden
255 Malcolm X Boulevard, Brooklyn, New York 11233, United States
See Similar DealsMixed-use6,760 SF
Sold 06/09/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$273
Total Square Footage:6,760 SF
Transaction Type:Sale
Located at 255 Malcolm X Blvd in Bedford-Stuyvesant, this mixed-use property was recently sold in a closed transaction. The sale took place on 06/09/2022 and involved a property with a total area of 6,760 square feet. The market value of this asset is reported to be $1,850,000, resulting in a price per square foot of $273.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,850,000
- Date: 06/09/2022
- Address: 255 Malcolm X Blvd
The buyer in this transaction was Jake Gao, while Steve Seiden acted as the seller. The deal was facilitated by Reuben Lugassy and Avraham Birnbaum from Twelve Stones Realty, who represented their respective clients throughout the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$98,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,572.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,769.94
Annual Debt Service$105,239.33
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