Noor Asif Acquires Mixed-Use Property In Bay Ridge, Brooklyn For $4.35M
7309 5th Avenue, Bay Ridge, Brooklyn, NY, USA
$4,350,000
$356/SF
Building Size
12,200 SF
Asset Type
Mixed-use
Closing
Jul 26, 2020
About this deal
AI
Located in Bay Ridge, Brooklyn, a mixed-use property at 7305-7309 5th Ave. has been sold in a recent transaction. The deal was finalized on July 26, 2021.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,350,000
- Address: 7305-7309 5th Ave.
- Market: Bay Ridge, Brooklyn
Noor Asif purchased the property from Lenny Dimelen. The transaction was facilitated by Stephen Safina and Robert Burnett of Longbrook Real Estate, who represented the buyer and seller respectively.
The property spans an area of 12,200 square feet and was initially listed with an asking price of $4,995,000. The final sale price amounted to $4,350,000, resulting in a price per square foot of $357.
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
3.65%
Cash-on-Cash
-1.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93