Mike Niamonitakis Acquires Mixed-Use Property At 8010 5th Avenue From Flagstar Bank For $2.63M
SOLD
$2,630,000
New York
See Similar DealsMixed-use8,640 SF
Sold 12/19/2024
SOLD
Mike Niamonitakis Acquires Mixed-Use Property At 8010 5th Avenue From Flagstar Bank For $2.63M
8010 5th Avenue
See Similar DealsMixed-use8,640 SF
Sold 12/19/2024
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$304
Total Square Footage:8,640 SF
Transaction Type:Sale
The property asset involved in this transaction is a mixed-use building located at 8010 5th Avenue in Brooklyn. The property was sold for $2,630,000, comprising a total area of 8,640 square feet, resulting in a price per square foot of $304.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,630,000
- Address: 8010 5th Avenue
- Market: Brooklyn
- Square Footage: 8,640
- Price per Square Foot: $304
- Buyer: Mike Niamonitakis
- Seller: Flagstar Bank
- Brokers: Dylan Walsh, Jonathan Squires & Kieran Baker - Cushman & Wakefield
The key individuals involved in this transaction include the buyer, Mike Niamonitakis, and the seller, Flagstar Bank, with representation provided by brokers Dylan Walsh, Jonathan Squires, and Kieran Baker from Cushman & Wakefield, who facilitated the sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$140,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,343.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,467.54
Annual Debt Service$149,610.50
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