Alan Stenson Sells Mixed-Use Properties In Bushwick, Brooklyn For $1.6M
998 Flushing Avenue & 1000 Flushing Avenue
$1,600,000
$152/SF
Building Size
10,500 SF
Asset Type
Mixed-use
Closing
Apr 23, 2024
AI
The mixed-use property located at 998 & 1000 Flushing Avenue in Bushwick, Brooklyn was sold for $1,600,000. Spanning 5,250 square feet, the properties were delivered vacant at the time of sale, marking the first sale in over 50 years. The sale price per square foot was $305.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $1,600,000
- Address: 998 & 1000 Flushing Avenue
- Market: Bushwick, Brooklyn
- Seller: Iris Negron
- Broker: Alan Stenson - Brax Realty
- SF: 5,250
- PPSF: $305
The sale of this property was facilitated by Alan Stenson from Brax Realty, who represented the seller, Iris Negron. For more opportunities in value-add and mixed-use properties within Brooklyn and Manhattan, interested parties can reach out to [email protected].
Players
Brooklyn 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
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93