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Abraham Silberstein Acquires Mixed Use Property In Bushwick, Brooklyn

Property Image
SOLD
$1,950,000
Shaun Riney
David Shorenstein
+ 1

New York

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Mixed-use4,575 SF
Sold 11/30/2020
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Property Image
SOLD

Abraham Silberstein Acquires Mixed Use Property In Bushwick, Brooklyn

469 Central Ave, Brooklyn, NY 11221, USA

See Similar Deals
Mixed-use4,575 SF
Sold 11/30/2020
Shaun Riney
David Shorenstein
+ 1
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$426
Total Square Footage:4,575 SF
Transaction Type:Sale

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
60 deals$187.3M volume
BROKER

David Shorenstein
60 deals$187.3M volume
BROKER

David Shorenstein
60 deals$187.3M volume
BROKER

Peter Von Der Ahe
Marcus & Millichap
110 deals$1.4B volume
BROKER

Shaun Riney
Marcus & Millichap
355 deals$1.8B volume(718) 475-4369
BROKER

Details

SOLD
IMAGE: Peter Von Der Ahe, David Shorenstein & Shaun Riney ADDRESS: 469 Central Avenue MARKET: Bushwick, Brooklyn ASSET TYPE: Mixed Use SELLER: David Shorenstein BUYER: Abraham Silberstein BROKERS: Peter Von Der Ahe, Shaun Riney SALE PRICE: $1,950,000 SF: 4,575 PPSF: $404 UNITS: 6 Units – 1 Retail, 5 Residential PPU: $325,000

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,927.94
Cash-on-Cash Return-1.27%
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