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2831 Church Avenue, Brookly...

Stav Kimchy Acquires Mixed-Use Property On Church Avenue In East Flatbush For $1.475M With Brokers Avraham Birnbaum & Reuben Lugassy
SOLDMixed-use

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

Avraham Birnbaum

Twelve Stones Realty

Broker

$44.7M

vol

24 deals

Broker

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