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665 Flatbush Avenue, Brookl...

Steven Sung Acquires Mixed-Use Property In Prospect Lefferts Gardens For $2.37M
SOLDMixed-use

Steven Sung Acquires Mixed-Use Property In Prospect Lefferts Gardens For $2.37M

665 Flatbush Avenue, Brooklyn, New York 11225, United States

$2,370,000

$423/SF

Building Size

5,600 SF

Asset Type

Mixed-use

Closing

Apr 27, 2022

AI

The mixed-use property located at 665 Flatbush Ave. in Prospect Lefferts Gardens was recently sold for $2,370,000. Spanning 5,600 square feet, the property was purchased by Steven Sung. The sale was facilitated by brokers Alex Svetlakou and Jeffrey A. Shalom from Cushman & Wakefield, who represented the buyer in the transaction.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $2,370,000
  • Address: 665 Flatbush Ave.
  • Market: Prospect Lefferts Gardens
  • Buyer: Steven Sung
  • Brokers: Alex Svetlakou & Jeffrey A. Shalom - Cushman & Wakefield
  • Square Footage: 5,600
  • Price per Square Foot: $423

Alex Svetlakou and Jeffrey A. Shalom from Cushman & Wakefield played a pivotal role in the sale of the property. Their expertise and negotiation skills contributed to the successful completion of the transaction on behalf of the buyer, Steven Sung.

Players

Alex Svetlakou

Ripco

Broker

$34.5M

vol

12 deals

Broker

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

6.69%

Cash-on-Cash

-1.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93