Joe Landau Acquires Mixed-Use Property In Bedford-Stuyvesant, Brooklyn For $2.5M
684 Flushing Avenue, Bedford-Stuyvesant, Brooklyn, NY, USA
$2,500,000
$346/SF
Building Size
7,208 SF
Asset Type
Mixed-use
Closing
Jun 29, 2020
About this deal
AI
A mixed-use property located at 684 Flushing Avenue in Bedford-Stuyvesant, Brooklyn was recently sold for a total of $2,500,000. The transaction took place on June 29, 2021, and was facilitated by brokers Shaun Riney and Daniel Greenblatt from New York Multifamily and Marcus & Millichap.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $2,500,000
- Address: 684 Flushing Avenue
- Market: Bedford-Stuyvesant, Brooklyn
The property consists of 10 units, with a price per unit (PPU) of $250,000. It spans a total area of 7,208 square feet, resulting in a price per square foot (PPSF) of $347.
Joe Landau purchased the property from Eric Goodman in this transaction.
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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93