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
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
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