Joe Sitt Of Thor Equities Sells Retail Asset At 1223 Avenue J In Brooklyn For $9.8M
1223 Avenue J
$9,800,000
$2,545/SF
Building Size
3,850 SF
Asset Type
Retail
Closing
Dec 3, 2018
About this deal
AI
The retail asset located at 1223 Avenue J in the Brooklyn market has been sold for a transaction amount of $9,800,000.00. The property encompasses a total area of 3,850 square feet, making it a significant retail space within the area.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $9,800,000.00
- Address: 1223 Avenue J
- Market: Brooklyn
- Square Footage: 3,850.0
- Seller: Joe Sitt (Thor Equities)
- Brokers: John Oliveri
Joe Sitt, representing Thor Equities, was the seller in the transaction, while John Oliveri acted as the broker facilitating the sale process.
Players
Brooklyn 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
1.62%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93