Lotus Management Group Acquires Retail Property In East New York, Brooklyn For $15.2M With Brokers Jonathan Hakimian & Roni Soleimani
SOLD
$15,200,000
+ 1
New York
See Similar DealsRetail25,170 SF
Sold 05/31/2023
SOLD
Lotus Management Group Acquires Retail Property In East New York, Brooklyn For $15.2M With Brokers Jonathan Hakimian & Roni Soleimani
1110 Granville Payne Ave Brooklyn, NY 11207, USA
See Similar DealsRetail25,170 SF
Sold 05/31/2023
+ 1
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$603
Total Square Footage:25,170 SF
Transaction Type:Sale
Lotus Management Group has acquired a retail property located at 1110 Pennsylvania Avenue in the East New York neighborhood of Brooklyn. The property was sold by the Bokhour Family for a total price of $15,200,000. The retail asset spans a total area of 25,170 square feet, resulting in a price per square foot of $604.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $15,200,000
- Address: 1110 Pennsylvania Avenue
- Market: East New York, Brooklyn
The sale transaction was facilitated by brokers Jonathan Hakimian and Roni Soleimani from SP Capital Group.
For further inquiries regarding similar properties for sale or if you wish to sell a property, you may contact the following representatives:
- Jonathan Hakimian - SP Capital Group
- Roni Soleimani - SP Capital Group
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$810,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$54,002.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$72,055.75
Annual Debt Service$864,669.06
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