Aaron M. Stein Acquires Mixed-Use Property In Borough Park, Brooklyn For $3.5M
SOLD
$3,500,000
New York
See Similar DealsMixed-use99,560 SF
Sold 09/01/2020
SOLD
Aaron M. Stein Acquires Mixed-Use Property In Borough Park, Brooklyn For $3.5M
3803 13th Ave, Brooklyn, NY 11218, USA
See Similar DealsMixed-use99,560 SF
Sold 09/01/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$35
Total Square Footage:99,560 SF
Transaction Type:Sale
A mixed-use property located at 3803-3807 13th Ave. in Borough Park, Brooklyn has been sold in a closed transaction. The property spans a total area of 9,956 square feet, with a price of $3,500,000. This equates to approximately $351 per square foot. The building has a total buildable area of 13,680 square feet and a price per buildable square foot of $255. The sale took place on September 1, 2020.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $3,500,000
- SF: 9,956
- PPSF: $351
- BSF: 13,680
- PPBSF: $255
- Market: Borough Park, Brooklyn
The buyer of the property is Aaron M. Stein, while the seller is Charles Alaimo. The property is situated within the M1-2/R6A, MX-12 zoning district, with a maximum floor area ratio (FAR) of 3 for residential purposes. The lot size is 57 feet by 80 feet.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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