Niro Gleema Acquires Mixed-Use Property At 654 Manhattan Avenue In Brooklyn For $5.8M
654 Manhattan Avenue
$5,800,000
$1,812/SF
Building Size
3,200 SF
Asset Type
Mixed-use
Closing
Oct 22, 2026
About this deal
AI
The property asset involved in the transaction is a mixed-use building located at 654 Manhattan Avenue in the Brooklyn market. The sale price for this asset was $5,800,000, encompassing a total area of 3,200 square feet, resulting in a price per square foot of $1,812.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $5,800,000
- Address: 654 Manhattan Avenue
- Market: Brooklyn
- Square Footage: 3,200
- Price Per Square Foot: $1,812
- Buyer: Niro Gleema
- Seller: Morris A. Sutton, Aretz Development & Elliot Horowitz - H Equities
The deal featured notable individuals and companies. The buyer is represented by Niro Gleema, while the sellers, comprising Morris A. Sutton, Aretz Development, and Elliot Horowitz from H Equities, played significant roles in the transaction.
On the Map
$5,800,000
$1,812/SF
Mixed-use
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Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93