Jacob Rubin Acquires Mixed-Use Property In Bedford-Stuyvesant For $3.3M
SOLD
$3,300,000
New York
See Similar DealsMixed-use8,640 SF
Sold 10/29/2019
SOLD
Jacob Rubin Acquires Mixed-Use Property In Bedford-Stuyvesant For $3.3M
554 Dekalb Ave, Brooklyn, NY 11205, USA
See Similar DealsMixed-use8,640 SF
Sold 10/29/2019
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$381
Total Square Footage:8,640 SF
Transaction Type:Sale
The mixed-use property located at 554 DeKalb Avenue in Bedford-Stuyvesant has been sold. The transaction took place on 10/29/2019.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,300,000
- Address: 554 DeKalb Avenue
- Market: Bedford-Stuyvesant
Fred Morales was the seller, while Jacob Rubin bought the property. The deal was facilitated by brokers DJ Johnston & Mike Murphy from b6realestate.
The property had a total square footage of 8,640, with a price per square foot of $382. It was a mixed-use building, with 50% of the space being owner-occupied or vacant and the other 50% being residential.
This transaction represents a significant sale in Bedford-Stuyvesant and highlights the involvement of key individuals in the negotiation and completion of the deal.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$175,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,724.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,643.68
Annual Debt Service$187,724.20
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