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
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.
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
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