facebook
Traded Co logo
Submit

Akram Saediqi Acquires Mixed-Use Property In Brooklyn, Cypress Hills For $1.035M

Property Image
SOLD
$1,035,000
Jay Bernstein

New York

See Similar Deals
Mixed-use3,368 SF
Sold 08/30/2019
the dealplayerscompscontact
Property Image
SOLD

Akram Saediqi Acquires Mixed-Use Property In Brooklyn, Cypress Hills For $1.035M

3137 Fulton St, Brooklyn, NY 11208, USA

See Similar Deals
Mixed-use3,368 SF
Sold 08/30/2019
Jay Bernstein
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$307
Total Square Footage:3,368 SF
Transaction Type:Sale

The mixed-use property located at 3137 Fulton Street in Brooklyn's Cypress Hills neighborhood has been sold. The seller, MIT Corp represented by Ira Krell and Matthew Bardach, reached an agreement with the buyer, Akram Saediqi, for a sale price of $1,035,000. The property spans 3,368 square feet and was listed with an asking price of $1,060,000, resulting in a price per square foot of $307. The transaction took place on August 30, 2019.

Ron Cohen and Jay Bernstein from Besen Partners served as the brokers representing both parties in the sale. Their expertise and negotiation skills played a significant role in closing the deal successfully.

Summary of Transaction Details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,035,000
  • Address: 3137 Fulton Street, Brooklyn, Cypress Hills
  • Market: Brooklyn, Cypress Hills
  • SF: 3,368
  • PPSF: $307
  • Seller: MIT Corp – Ira Krell & Matthew Bardach
  • Buyer: Akram Saediqi
  • Brokers: Ron Cohen, Jay Bernstein @BesenPartners

This successful transaction was a result of the collaboration between the seller, buyer, and the brokers involved. The property's location, size, and potential for income make it an attractive investment opportunity in the Brooklyn market.

Players

Jay Bernstein
12 deals$70M volume
BROKER

Ronald (Ron) Cohen
Besen Partners
25 deals$95.3M volume
BROKER

Details

SOLD
IMAGE: Ron Cohen & Jay Bernstein DATE: 08/30/2019 ADDRESS: 3137 Fulton Street MARKET: Brooklyn, Cypress Hills ASSET TYPE: Mixed-use SELLER: MIT Corp – Ira Krell & Matthew Bardach BUYER: Akram Saediqi BROKERS: Ron Cohen, Jay Bernstein @BesenPartners ASKING PRICE: $1,060,000 SALE PRICE: $1,035,000 SF: 3,368 PPSF: $307 GROSS INCOME: $88,950

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$55,200.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,677.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,906.43
Annual Debt Service$58,877.14