Stav Kimchy Acquires Mixed-Use Property On Church Avenue In East Flatbush For $1.475M With Brokers Avraham Birnbaum & Reuben Lugassy
2831 Church Avenue, Brooklyn, NY 11226
$1,475,000
$380/SF
Building Size
3,875 SF
Asset Type
Mixed-use
Closing
Jan 20, 2022
AI
Located at 2831 Church Avenue in East Flatbush, this recently closed transaction involved a mixed-use property. The sale took place on January 20, 2022, and the property was sold for a total of $1,475,000. With a total area of 3,875 square feet, the price per square foot is approximately $380. The buyer in this transaction was Stav Kimchy, while the seller was Steven Seiden.
Summary of Transaction Details:
- Property Type: Mixed-use
- Transaction Amount: $1,475,000
- Address: 2831 Church Avenue
- Market: East Flatbush
- Buyer: Stav Kimchy
- Seller: Steven Seiden
- Brokers: Avraham Birnbaum & Reuben Lugassy - Twelve Stones Realty
- Square Footage: 3,875
- Price per Square Foot: $380
Representing the buyer and seller in this deal were Avraham Birnbaum and Reuben Lugassy from Twelve Stones Realty. It's worth mentioning that Twelve Stones Realty specializes in mixed-use and free market property in Brooklyn, Bronx, and the Rockaways. They focus primarily on off-market exclusives. Additionally, @TwelveStonesRealty expressed their pleasure working with Fortress Insurance Brokers and Ponce Bank.
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
10.75%
Cash-on-Cash
-3.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93