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657 Flushing Avenue, Brookl...

The Strulovitch Family Acquires Mixed-use Property In Williamsburg, Brooklyn For $2M
SOLDMixed-use

The Strulovitch Family Acquires Mixed-use Property In Williamsburg, Brooklyn For $2M

657 Flushing Avenue, Brooklyn, New York 11206, United States

$2,000,000

$683/SF

Building Size

2,926 SF

Asset Type

Mixed-use

Closing

Aug 30, 2022

AI

The mixed-use property located at 657 Flushing Avenue in Williamsburg, Brooklyn has been sold for a price of $2,000,000. The property spans 2,926 square feet, resulting in a price per square foot of $683. The transaction took place on August 31, 2022 and involved the buyer, The Strulovitch Family.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $2,000,000
  • Square Footage: 2,926
  • Price per Square Foot: $683
  • Address: 657 Flushing Avenue, Williamsburg, Brooklyn
  • Market: Williamsburg, Brooklyn

The sale of this mixed-use property was facilitated by the brokers Lev Mavashev and Daniel Aminov from Alpha Realty. They represented the buyer, The Strulovitch Family, in the transaction.

Players

Lev Mavashev

Alpha Realty

Broker

$742M

vol

106 deals

Broker

Strulovitch Family

Buyer

$9.4M

vol

3 deals

Buyer

New York 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

7.93%

Cash-on-Cash

-2.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93