Sasson Real Estate Group Acquires Office Building In Borough Park For $3.9M
SOLD
$3,900,000
New York
See Similar DealsOffice4,320 SF
Sold 09/09/2021
SOLD
Sasson Real Estate Group Acquires Office Building In Borough Park For $3.9M
902 49th Street, Borough Park, Brooklyn, NY, USA
See Similar DealsOffice4,320 SF
Sold 09/09/2021
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$902
Total Square Footage:4,320 SF
Transaction Type:Sale
The property at 902 49th Street in Borough Park has been sold in a transaction. The office building, with a zoning designation of R6, was involved in the closed sale. The buyer of the property is Sasson Real Estate Group, while the seller is Norman Saffra.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,900,000
- Address: 902 49th Street
- Market: Borough Park
- Lot Size: 2,104
- Building Square Footage: 4,313
- Price per Square Foot: $904
- Building Square Footage (BSF): 5,113
- Price per Building Square Foot (PPBSF): $762
- FAR: 2.05
- Tax Class: 4
- Permits: Alteration 2 (02/11/2002)
- Lot Dimensions: 21 ft x 100.17 ft
Sasson Real Estate Group acted as the buyer in this transaction, representing their own interests. Norman Saffra, the seller, was represented by his own representative in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$208,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88
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