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Adel Fadel Acquires Mixed-Use Property At 444 Ralph Avenue In New York City For $1.8M

Property Image
SOLD
$1,800,000

New York

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Mixed-use7,520 SF
Sold 07/31/2023
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Property Image
SOLD

Adel Fadel Acquires Mixed-Use Property At 444 Ralph Avenue In New York City For $1.8M

444 Ralph Ave Brooklyn, NY 11233, USA

See Similar Deals
Mixed-use7,520 SF
Sold 07/31/2023
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$239
Total Square Footage:7,520 SF
Transaction Type:Sale

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

Avraham Birnbaum
24 deals$44.7M volume
BROKER

Reuben Lugassy
11 deals$19.3M volume
BROKER

Joseph L. Jemal
ICER Properties
36 deals$598.7M volume
BROKER

Joseph L. Jemal
ICER Properties
36 deals$598.7M volume
SELLER

Joseph L. Jemal
36 deals$598.7M volume
SELLER

Joseph L. Jemal
36 deals$598.7M volume
SELLER

Joseph L. Jemal
36 deals$598.7M volume
SELLER

Joseph L. Jemal
36 deals$598.7M volume
SELLER

Details

SOLD
IMAGE: Joseph Jemal, Avraham Birnbaum & Reuben Lugassy DATE: 07/31/2023 ADDRESS: 444 Ralph Avenue MARKET: New York City ASSET TYPE: Mixed-Use BUYER: Adel Fadel SELLER: Joseph Jemal BROKERS: Reuben Lugassy & Avraham Birnbaum - Twelve Stones Realty (@TwelveStonesRealty) SALE PRICE: $1,800,000 SF: 7,520 ~ PPSF: $239 NOTE FROM BROKER: Special Thanks to the J WASSER MANAGEMENT team.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
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