facebook
Traded Co logo
Submit

Retail Building Sold For $2.25M In Coney Island Represented By Baruch Edelkopf & Matthew Colantonio

Property Image
SOLD
$2,250,000
Matthew (Matt) Colantonio
Baruch Edelkopf

New York

See Similar Deals
Retail4,000 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Retail Building Sold For $2.25M In Coney Island Represented By Baruch Edelkopf & Matthew Colantonio

1045 Surf Avenue

See Similar Deals
Retail4,000 SF
Sold
Matthew (Matt) Colantonio
Baruch Edelkopf
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$562
Total Square Footage:4000 SF
Transaction Type:Sale

The property involved in this transaction is a vacant retail building located at 1045 Surf Avenue in Brooklyn, New York. The asset spans 4,000 square feet and was sold for $2,250,000, which equates to $562 per square foot. The building is situated in Coney Island, between West 12th and West 8th Streets, directly across from the proposed Coney Island casino, hotel, and conference center.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,250,000
  • Square Footage: 4,000
  • Price per Square Foot: $562
  • Address: 1045 Surf Avenue
  • Market: Brooklyn

Baruch Edelkopf and Matthew Colantonio from Schuckman Realty Investment Sales represented the transaction, leading a successful marketing process that attracted multiple offers from value-add retail buyers. Their efforts culminated in securing a strong offer from a local buyer.

Players

Baruch Edelkopf
BK Real Estate Advisors
Baruch Edelkopf
27 deals$110.7M volume(646) 919-2446
BROKER
Baruch Edelkopf
BK Real Estate Advisors
Baruch Edelkopf
27 deals$110.7M volume(646) 919-2446
BROKER
Matthew (Matt) Colantonio
Schuckman Realty
Matthew Colantonio
5 deals$28.2M volume
BROKER

Details

SOLD
IMAGE: Baruch Edelkopf & Matthew Colantonio DATE: 09/25/2024 ADDRESS: 1045 Surf Avenue MARKET: Brooklyn ASSET TYPE: Retail BROKERS: Baruch Edelkopf (@Baruch_In_Brooklyn) & Matthew Colantonio (@M_Cole8_) - Schuckman Realty Investment Sales (@Schuckman.Investment.Sales) - Schuckman Realty (@SchuckmanRealty) SALE PRICE: $2,250,000 SF: 4,000 ~ PPSF: $562 NOTE FROM BROKER: Schuckman Realty Inc. is excited to announce the sale of 1045 Surf Ave, a vacant 4,000 sqft value-add retail building located in Coney Island, between West 12th and West 8th Streets. This property is directly across the street from the proposed Coney Island casino, hotel, and conference center. Baruch Edelkopf and Matthew Colantonio led a successful marketing process, attracting multiple offers from value-add retail buyers, ultimately securing a strong offer from a local buyer. If you have any similar value-add retail buildings in NYC, Long Island, or the Tri-State area, or fully stabilized retail deals, please feel free to reach out to Baruch Edelkopf at 718-964-9048 ([email protected]) or Mathew Colontonio at 516-680-6832 ([email protected]).

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$120,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,993.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,666.15
Annual Debt Service$127,993.77