The Shao Organization Acquires Bensonhurst Property For $7.4M With TerraCRG As Brokers
SOLD
$7,400,000
+ 1
New York
See Similar DealsOther150,840 SF
Sold 12/10/2019
SOLD
The Shao Organization Acquires Bensonhurst Property For $7.4M With TerraCRG As Brokers
8222 18th Ave, Brooklyn, NY 11214, USA
See Similar DealsOther150,840 SF
Sold 12/10/2019
+ 1
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$49
Total Square Footage:150,840 SF
Transaction Type:Sale
The property located at 8222 18th Avenue in Bensonhurst has been sold in a closed transaction. The sale price for this property was $7,400,000. The total square footage of the property is 15,084 square feet. The transaction took place on 12/10/2019.
Summary of transaction details
- Property Type: Not specified
- Transaction Amount: $7,400,000
- Address: 8222 18th Avenue
- Market: Bensonhurst
The seller of the property was the Estate of Ruth Simon. The buyer of the property was The Shao Organization, represented by Lian Wu Shao and William Shao. The deal was facilitated by TerraCRG, with Dan Marks, Daniel Lebor, and Adam Tannenbaum serving as brokers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$394,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,290.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,079.78
Annual Debt Service$420,957.30
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