Maqbool Mohammad Acquires Mixed-Use Property On Coney Island Ave In Kensington, Brooklyn For $800K
692 Coney Island Ave, Brooklyn, NY 11218, USA
$800,000
$24/SF
Building Size
32,400 SF
Asset Type
Mixed-use
Closing
Dec 22, 2019
About this deal
AI
Located at 692 Coney Island Ave in Kensington, Brooklyn, this mixed-use property was recently sold. The property features 3 apartments and 1 store, with a total building square footage (BSF) of 3,240. The sale price for this property was $800,000, resulting in a price per building square footage (PPBSF) of $246. The units within the property were sold at a price per unit (PPU) of $200,000.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $800,000
- Building Square Footage (BSF): 3,240
- Price per Building Square Footage (PPBSF): $246
- Number of Units: 3 apartments and 1 store
- Price per Unit (PPU): $200,000
- Market: Kensington, Brooklyn
The seller of this property was Hezi Salman, while the buyer was Maqbool Mohammad. The deal was facilitated by John Brennan & Sam Finkler from Marcus & Millichap.
Note: The buyer has plans to demolish the property for future development.
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
19.83%
Cash-on-Cash
-5.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93