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2988 Nostrand Avenue

David Bamshad Acquires Mixed-Use Property From Shafqat Naveed For $1,425,000 In Brooklyn
SOLDMixed-use

David Bamshad Acquires Mixed-Use Property From Shafqat Naveed For $1,425,000 In Brooklyn

2988 Nostrand Avenue

$1,425,000

$279/SF

Building Size

5,100 SF

Asset Type

Mixed-use

Closing

Jun 16, 2026

AI

The transaction involves a mixed-use property located at 2988 Nostrand Avenue in Brooklyn. The property was sold for a transaction amount of $1,425,000, comprising 5 units and a total square footage of 5,100. The price per unit was noted at $285,000, with a price per square foot of $279.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,425,000
  • Buyer: David Bamshad
  • Seller: Shafqat Naveed
  • Units: 5
  • Square Footage: 5,100
  • Price per Unit: $285,000
  • Price per Square Foot: $279

The brokers involved in the transaction are Vito Angelo and Billy Apter, both representing Re/Max. Interested parties can contact Vito Angelo at 718-887-5708 and Billy Apter at 347-721-6599. A note from the seller's representative highlights the opportunity to call Brooklyn's producing team for exclusive opportunities, encouraging sellers to reach out for top dollar on properties in any condition.

Players

Vito Angelo

Re/Max

Broker

$80.5M

vol

40 deals

Broker

David Bamshad

Buyer

$1.4M

vol

1 deal

Buyer

Shafqat Naveed

Seller

$1.4M

vol

1 deal

Seller

Market 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

11.13%

Cash-on-Cash

-3.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93