Nabil Hussein Acquires Retail Property In Canarsie, Brooklyn For $11.7M
SOLD
$11,700,000
New York
See Similar DealsRetail26,260 SF
Sold 09/25/2023
SOLD
Nabil Hussein Acquires Retail Property In Canarsie, Brooklyn For $11.7M
10504 Flatlands Avenue
See Similar DealsRetail26,260 SF
Sold 09/25/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$445
Total Square Footage:26,260 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$624,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,567.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,463.97
Annual Debt Service$665,567.63
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