Renaissance Realty Acquires Flatbush Avenue Retail Property For $10.2M
1032 Flatbush Ave, Brooklyn, Ny 11226, Usa
Building Size
18,000 SF
Asset Type
Retail
Closing
Jun 27, 2018
About this deal
AI
The property asset involved in the transaction is a retail space located at 1032-1038 Flatbush Avenue in the Flatbush market of Brooklyn, New York. The sale price for the asset was $10,200,000, encompassing approximately 18,000 square feet with a price per square foot of $567.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $10,200,000
- Address: 1032-1038 Flatbush Avenue
- Market: Flatbush, Brooklyn
- City: New York
- Tenant: @crunchgym
- Seller: Jorge Madruga, Madd Equities
- Buyer: Renaissance Realty – Adir Cohen @Mr_Cohen88
- Seller's Rep Broker: Yisroel Pershin, GFI Realty
- Buyer's Rep Broker: […]
- Square Footage: approx. 18,000
- Price Per Square Foot: $567
The deal involved key individuals including Jorge Madruga and Adir Cohen, representing the interests of Madd Equities and Renaissance Realty respectively. Yisroel Pershin from GFI Realty acted on behalf of the seller in this transaction.
On the Map
Retail
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93