Ahmed Kassim Acquires Mixed-Use Property On Cleveland St. In Brooklyn For $2.8M
726 Cleveland St, Brooklyn, NY 11208 & 726 Cleveland Street
$2,800,000
$244/SF
Building Size
11,472 SF
Asset Type
Mixed-use
Closing
Sep 18, 2022
AI
Located at 726 Cleveland St. in Brooklyn, this mixed-use property was recently sold in a closed transaction. The property spans 5,736 square feet and is situated in a desirable market. The sale price for this property was $2,800,000, resulting in a price per square foot of $488.
Summary of transaction details
- Property Type: Mixed-use
- Date: 09/19/2022
- Address: 726 Cleveland St.
- Market: Brooklyn
- Buyer: Ahmed Kassim
- Seller: Martinez Family
- Broker: Erik Rodriguez - Rodriguez Commercial Realty
- Sale Price: $2,800,000
- Square footage: 5,736 SF
- Price per square foot: $488
Erik Rodriguez from Rodriguez Commercial Realty represented both the buyer, Ahmed Kassim, and the seller, Martinez Family, in this transaction.
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
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93