Big Dream Developers Acquires Office Building In Bedford Stuyvesant For $10.7M
470 Flushing Avenue, Brooklyn, New York 11205, United States
$10,700,000
$486,363/SF
Building Size
22 SF
Asset Type
Office
Closing
Dec 15, 2022
About this deal
AI
The office building located at 470 Flushing Avenue in the Bedford Stuyvesant market has been sold for a total of $10,700,000. The property spans 22,695 square feet, resulting in a price per square foot of $471.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $10,700,000
- Address: 470 Flushing Avenue
- Market: Bedford Stuyvesant
The buyer, Big Dream Developers, represented by Ascher Berkowitz, acquired the property from Triple L Realty Corp, represented by Paula Gluck.
The office sale at 470 Flushing Avenue, Brooklyn, New York 11205, United States in Brooklyn, New York sold for $10.7M in 2022. The building is 22 square feet, implying about 486.4K per square foot on the published price. This page is the Brooklyn, New York file for the 470 Flushing Avenue, Brooklyn, New York 11205, United States office sold: pricing, party profiles, and other closed office comps from the same Brooklyn sit in the Market section below. Filter that Brooklyn office set by closing date to see what else sold near 470 Flushing Avenue, Brooklyn, New York 11205, United States around 2022. Published consideration for 470 Flushing Avenue, Brooklyn, New York 11205, United States is $10.7M, dated 2022. Cite this Big Dream Developers Acquires Office Building In Bedford Stuyvesant For $10.7M sale when underwriting similar office product around Brooklyn, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.48%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93