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2588 Pitkin Avenue, Brookly...

Updated Sep 9, 2024

Sam Muratov & Eli Muratov Acquire Mixed-use Property In East New York, Brooklyn For $1.25M
SOLDMixed-use

Sam Muratov & Eli Muratov Acquire Mixed-use Property In East New York, Brooklyn For $1.25M

2588 Pitkin Avenue, Brooklyn, New York 11208, United States

$1,250,000

$195/SF

Building Size

6,400 SF

Asset Type

Mixed-use

Closing

Jan 14, 2022

About this deal

AI

Located at 2588 Pitkin Avenue in East New York, Brooklyn, this mixed-use property recently changed hands in a sale transaction. The asset consists of eight units with a total area of 6,400 square feet. The property includes six one-bedroom apartments and two retail units. The sale price for this transaction was $1,250,000, resulting in a price per unit of $156,250 and a price per square foot of $195.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $1,250,000
  • Units: 8
  • Price per Unit: $156,250
  • Square Feet: 6,400
  • Price per Square Foot: $195
  • Market: East New York, Brooklyn

The buyer in this transaction is Sam Muratov and Eli Muratov, while the seller is Tom Fiore. The deal was facilitated by brokers Dan O'Brien, Will Diana, and Caroline Hodes from Cushman & Wakefield. It's worth noting that there was one vacancy in one of the retail units. For more information on this transaction or other transactions in South Brooklyn, interested parties can contact Will Diana at 917-882-3446.

Players

Caroline Hodes

Newmark

Broker

$1.9B

vol

99 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $195 per square foot on a published $1.3M for 6,400 square feet (2022).

Visit William (Will) Diana 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

12.69%

Cash-on-Cash

-3.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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