Nabil Hussein Acquires Retail Property In Canarsie, Brooklyn For $11.7M
10504 Flatlands Avenue
$11,700,000
$445/SF
Building Size
26,260 SF
Asset Type
Retail
Closing
Sep 25, 2023
AI
A brand-new construction two-story shopping center located at 10504 Flatlands Avenue in Canarsie, Brooklyn has been sold for $11,700,000. The property spans a total of 26,260 square feet and was delivered fully occupied. It is situated in the Canarsie market, making it a prime retail asset.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $11,700,000
- Address: 10504 Flatlands Avenue
- Market: Canarsie, Brooklyn
- Square Footage: 26,260
- Price per Square Foot: $446
The buyer in this transaction is Nabil Hussein, while the seller is David Koptiev. The deal was facilitated by Scott Plasky and Alex Arustamian of Marcus & Millichap, who represented both parties as brokers.
Players
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.36%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93