Adel Fadel Acquires Mixed-Use Property At 444 Ralph Avenue In New York City For $1.8M
444 Ralph Ave Brooklyn, NY 11233, USA
$1,800,000
$239/SF
Building Size
7,520 SF
Asset Type
Mixed-use
Closing
Jul 31, 2023
AI
The mixed-use property located at 444 Ralph Avenue in New York City has been sold in a recent transaction. The property spans a total area of 7,520 square feet and was sold for a price of $1,800,000, resulting in a price per square foot of $239. The sale was facilitated by the brokers Reuben Lugassy and Avraham Birnbaum from Twelve Stones Realty.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $1,800,000
- Square Footage: 7,520
- Address: 444 Ralph Avenue, New York City
- Market: New York City
- Buyer: Adel Fadel
- Seller: Joseph Jemal
- Brokers: Reuben Lugassy & Avraham Birnbaum - Twelve Stones Realty
Adel Fadel is the buyer of this mixed-use property, while Joseph Jemal is the seller. Reuben Lugassy and Avraham Birnbaum from Twelve Stones Realty represented both parties as the brokers in this transaction. Their expertise and assistance were vital in facilitating the deal. Special thanks were extended to the J WASSER MANAGEMENT team for their involvement in the transaction.
Players
New York 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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93