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
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