Junaid Zahid Acquires Retail Building In Bedford Stuyvesant, Brooklyn For $4.6M
113 Herkimer Street Brooklyn, New York 11216, USA
$4,600,000
$1,000/SF
Building Size
4,600 SF
Asset Type
Retail
Closing
Jun 30, 2023
About this deal
AI
The retail building located at 113 Herkimer Street in Bedford Stuyvesant, Brooklyn has been sold in a transaction. Junaid Zahid purchased the property for a total of $4.6 million from Constance Spiliotes. The building is situated in the desirable market of Bedford Stuyvesant and offers a great investment opportunity.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,600,000
- Address: 113 Herkimer Street, Bedford Stuyvesant, Brooklyn
- Market: Bedford Stuyvesant, Brooklyn
- Buyer: Junaid Zahid
- Seller: Constance Spiliotes
Represented by Delta Kappa Realty Corp, Constance Spiliotes facilitated the sale of the retail building to Junaid Zahid. With a building square footage (BSF) of 22,512 and a price per square foot (PPSF) of $204, the property offers a lucrative investment opportunity.
Players
Hamilton Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.45%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93