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444 Ralph Ave Brooklyn, NY ...

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

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

Avraham Birnbaum

Twelve Stones Realty

Broker

$44.7M

vol

24 deals

Broker
Joseph L. Jemal

Joseph L. Jemal

ICER Properties

Seller

$598.7M

vol

36 deals

Seller

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