Meir Babaev Acquires Mixed-Use Property In Brooklyn For $9.75M
267 Flatbush Ave, Brooklyn, NY 11217, USA
Building Size
1,979 SF
Asset Type
Mixed-use
Closing
Feb 27, 2018
About this deal
AI
267 Flatbush Avenue in Brooklyn has been sold in a closed transaction for $9,750,000. This mixed-use property has a price per square foot of $919 and a cap rate of 4.85%.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $9,750,000
- Price Per Square Foot: $919
- Cap Rate: 4.85%
The seller of this property is Ben Bernstein, representing Red Sky Capital. The buyer is Meir Babaev (@meirbabaev) and the transaction was facilitated by TerraCRG. The brokers involved in the deal are Adam Hess, Dan Marks, and Dan Lebor.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93