Joshua Daniel Flagg Acquires Mixed-Use Properties At 800 & 802 Lexington Avenue For $11.5M
800 Lexington Avenue & 802 Lexington Avenue
$11,500,000
Building Size
—
Asset Type
Mixed-use
Closing
Oct 13, 2026
About this deal
AI
The properties involved in this transaction are two mixed-use assets located at 800 and 802 Lexington Avenue in Brooklyn. The sale price for these properties was $11,500,000. This transaction represents a transfer of prime commercial and residential assets in a notable deal within the Brooklyn real estate market.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $11,500,000
- Buyer: Joshua Daniel Flagg
- Seller: Dennis Riese - Riese Organization
- Date of Sale: 10/13/2026
This transaction highlights the involvement of high-profile real estate investors, with Joshua Daniel Flagg acquiring the properties from Dennis Riese, marking a significant move in the Brooklyn mixed-use market.
On the Map
$11,500,000
Mixed-use
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Avenue 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
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93