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Mendel Kaff Acquires Office Building On Avenue X In Sheepshead Bay, Brooklyn For $9.2M
SOLD
$9,200,000
New York
See Similar DealsOffice6,250 SF
Sold 08/07/2023
SOLD
Mendel Kaff Acquires Office Building On Avenue X In Sheepshead Bay, Brooklyn For $9.2M
2021 Avenue X Brooklyn, New York 11235, USA
See Similar DealsOffice6,250 SF
Sold 08/07/2023
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$1,472
Total Square Footage:6,250 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$490,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,685.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,612.69
Annual Debt Service$523,352.32
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