Mendel Kaff Acquires Office Building On Avenue X In Sheepshead Bay, Brooklyn For $9.2M
2021 Avenue X Brooklyn, New York 11235, USA
$9,200,000
$1,472/SF
Building Size
6,250 SF
Asset Type
Office
Closing
Aug 7, 2023
AI
2021 Avenue X, located in Sheepshead Bay, Brooklyn, has been sold in a closed transaction. The office property was acquired by Mendel Kaff, CEO of Ra Ex LLC, for a total price of $9.2 million. The seller of the property was Sg Ny Capital LLC.
Summary of transaction details
- Property Type: Office
- Sale Price: $9,200,000
- Address: 2021 Avenue X, Sheepshead Bay, Brooklyn
Mendel Kaff, representing Ra Ex LLC, successfully completed the acquisition of 2021 Avenue X. The property spans approximately 6,250 square feet, with a price per square foot of $1,472. The building boasts a total building square footage of 7,499, equating to a price per building square foot of $1,227.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.72%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93