Joel Brach Acquires Mixed-Use Property In New York City From Redsky Capital For $11.6M
357 Flatbush Avenue
$11,600,000
$1,110/SF
Building Size
10,445 SF
Asset Type
Mixed-use
Closing
Mar 30, 2023
About this deal
AI
A mixed-use property located at 357 Flatbush Avenue in the vibrant market of New York City has been sold for a total price of $11,600,000. The property spans across 10,445 square feet, resulting in a price per square foot of $1,111. The transaction took place on March 30, 2023.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $11,600,000
- Square Footage: 10,445
- Price per Square Foot: $1,111
- Address: 357 Flatbush Avenue, New York City
In this deal, the buyer was Joel Brach, while the seller was Redsky Capital. The transaction was facilitated by Aaron Jungreis, Alex Fuchs, and Ben Khakshoor of Rosewood Realty Group, acting as the brokers. Their expertise and negotiation skills contributed to the successful completion of the sale.
On the Map
$11,600,000
$1,110/SF
Mixed-use
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Players
Brooklyn 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
1.37%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93