facebook
Traded Co logo
Submit

Jack Terzi Acquires Greenpoint Retail Condo On Manhattan Avenue

Property Image
SOLD
$10,050,000
Justin Arzi
Daniel (Dan) Kaplan
Jack Terzi

New York

See Similar Deals
Mixed-use15,000 SF
Sold 05/31/2018
the dealplayerscompscontact
Property Image
SOLD

Jack Terzi Acquires Greenpoint Retail Condo On Manhattan Avenue

807 Manhattan Avenue, Brooklyn, NY 11222

See Similar Deals
Mixed-use15,000 SF
Sold 05/31/2018
Justin Arzi
Daniel (Dan) Kaplan
Jack Terzi
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$670
Total Square Footage:15,000 SF
Transaction Type:Sale

The retail condo located at 807 Manhattan Avenue in New York City's Greenpoint/BK market has been sold for a price of $10,050,000. The property, a historic stone building featuring neoclassical architecture, encompasses 15,000 square feet of interior space. With a price per square foot of $670, this retail condo offers a lucrative investment opportunity.

Summary of Transaction Details

  • Property Type: Retail Condo
  • Transaction Amount: $10,050,000
  • Square Footage: 15,000
  • Address: 807 Manhattan Avenue, New York
  • Market: Greenpoint/BK

Jack Terzi has acquired the property from Margate Atlantic Properties. The deal was facilitated by the brokers Dan Kaplan and Justin Arzi from CBRE. It is worth noting that Capital One has a long-term lease for the entire 15,000 square feet of interior space in this historic building. They operate a retail bank branch at this location.

Players

Justin Arzi
CBRE
Justin Arzi
38 deals$1.2B volume(212) 984-7142
BROKER
Daniel (Dan) Kaplan
CBRE
Daniel Kaplan
55 deals$1.7B volume
BROKER
Jack Terzi
Jack Terzi
12 deals$101.1M volume
BUYER
MP
Margate Atlantic Properties
SELLER

Details

SOLD
IMAGE: Jack Terzi (@jt_re) and Dan Kaplan (@Dkap24) DATE: 05/31/2018 ADDRESS: 807 Manhattan Avenue CITY: New York MARKET: Greenpoint/BK ASSET TYPE: Retail Condo SELLER: Margate Atlantic Properties BUYER: Jack Terzi BROKERS:  Dan Kaplan & Justin Arzi @arzigram - CBRE PRICE: $10,050,000 SF: 15,000  ~ PPSF: $670 NOTES: The historic stone building at 807 Manhattan Avenue, which features neoclassical architecture including a domed roof and Romanesque columns. Capital One has a long-term lease of the building's entire 15,000 square feet of interior space, which it uses for a retail bank branch.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$535,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$35,705.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,642.13
Annual Debt Service$571,705.53