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469 Central Ave, Brooklyn, ...

Abraham Silberstein Acquires Mixed Use Property In Bushwick, Brooklyn
SOLDMixed-use

Abraham Silberstein Acquires Mixed Use Property In Bushwick, Brooklyn

469 Central Ave, Brooklyn, NY 11221, USA

$1,950,000

$426/SF

Building Size

4,575 SF

Asset Type

Mixed-use

Closing

Nov 29, 2020

AI

The mixed-use property located at 469 Central Avenue in Bushwick, Brooklyn has been sold in a closed transaction. The property consists of 6 units, including 1 retail space and 5 residential units. The transaction involved a sale price of $1,950,000, with a price per square foot of $404. The total square footage of the property is 4,575, making the price per unit $325,000.

Summary of transaction details:

  • Property Type: Mixed Use
  • Sale Price: $1,950,000
  • Price per Square Foot: $404
  • Address: 469 Central Avenue, Bushwick, Brooklyn
  • Market: Bushwick, Brooklyn
  • Units: 6 Units – 1 Retail, 5 Residential
  • Price per Unit: $325,000

The seller of the property was David Shorenstein, while the buyer was Abraham Silberstein. The transaction was facilitated by brokers Peter Von Der Ahe and Shaun Riney.

Players

David Shorenstein

Hildreth Real Estate Advisors

Broker

$187.3M

vol

60 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

363 deals

Broker

Abraham Silberstein

Silver Properties

Buyer

$29.3M

vol

3 deals

Buyer

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

8.13%

Cash-on-Cash

-2.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93