Isaac Mograby And Isaac Chera Purchase Mixed-Use Property In Brooklyn For $4.4M

The mixed-use property located at 5102 5th Ave, Brooklyn, NY, 11220 was sold for $4,400,000.00. This 4-story building encompasses a total area of 7,600 square feet and consists of 4 free-market apartments, 2 retail spaces, an office space, and a cell tower. The retail spaces are currently occupied by a jewelry store and a cell phone store on a month-to-month lease, while three of the four apartments are vacant. The sale price translates to $575 per gross square foot.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $4,400,000.00
• Address: 5102 5th Ave, Brooklyn, NY, 11220
• Market: Brooklyn
• Square Footage: 7,600
• Seller's Representative: Rémi Norris-Terra CRG
• Buyer: Isaac Mograby and Isaac Chera

Rémi Norris, a Senior Associate with TerraCRG, represented the seller, assisting in the successful closure of the transaction. The property’s strategic location on a busy retail strip offers proximity to the R train and several national tenants, contributing to its appeal. The buyer, Isaac Mograby and Isaac Chera, are now positioned to capitalize on the vacant residential units and the additional income from the cell tower with minimal maintenance requirements.