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589 Flatbush Avenue

Updated May 12, 2025

Oren Neria Of My BK Management Acquires Mixed-Use Building At 589 Flatbush Avenue For $1.53M
SOLDMixed-use

Oren Neria Of My BK Management Acquires Mixed-Use Building At 589 Flatbush Avenue For $1.53M

589 Flatbush Avenue

$1,530,000

$447/SF

Building Size

3,420 SF

Asset Type

Mixed-use

Closing

Apr 22, 2025

About this deal

AI

589 Flatbush Avenue is a mixed-use building located in Brooklyn's Prospect Lefferts Gardens. The property was sold for $1,530,000, featuring 3 units and a total square footage of 3,420. The price per unit was $510,000, while the price per square foot was $447. At the time of closing, the retail space was vacant, and two apartments were occupied.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,530,000
  • Units: 3
  • Price per Unit: $510,000
  • Square Footage: 3,420
  • Price per Square Foot: $447
  • Buyer: Oren Neria - My BK Management
  • Broker: Fred Bijou - Bijou Equities
  • Date of Sale: 04/23/2025
  • Market: Brooklyn

Bijou Equities represented both the Buyer and the Seller in this transaction, highlighting their commitment to successful deals in the Brooklyn real estate market. For inquiries regarding similar assets, Fred Bijou can be contacted directly.

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$1,530,000

$447/SF

Mixed-use

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Players

Fred Bijou

Bijou Equities

Broker

$107.3M

vol

33 deals

Broker

Oren Neria

Buyer

$12.2M

vol

4 deals

Buyer
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Brooklyn Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $447 per square foot on a published $1.5M for 3,420 square feet (2025).

Visit Fred Bijou to view all their deals.

Browse Brooklyn mixed use sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.37%

Cash-on-Cash

-2.96%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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