Ahmed Kassim Acquires Mixed-Use Property On Cleveland St. In Brooklyn For $2.8M
SOLD
$2,800,000
New York
See Similar DealsMixed-use11,472 SF
Sold
SOLD
Ahmed Kassim Acquires Mixed-Use Property On Cleveland St. In Brooklyn For $2.8M
726 Cleveland St, Brooklyn, NY 11208
See Similar DealsMixed-use11,472 SF
Sold
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$244
Total Square Footage:11472 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$149,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,947.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,273.43
Annual Debt Service$159,281.14
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