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
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
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93