Joe Sitt Of Thor Equities Sells Retail Asset At 1223 Avenue J In Brooklyn For $9.8M
SOLD
$9,800,000
New York
See Similar DealsRetail3,850 SF
Sold 12/03/2018
SOLD
Joe Sitt Of Thor Equities Sells Retail Asset At 1223 Avenue J In Brooklyn For $9.8M
1223 Avenue J
See Similar DealsRetail3,850 SF
Sold 12/03/2018
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$2,545
Total Square Footage:3,850 SF
Lot Square Footage:2000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$522,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,817.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,457.00
Annual Debt Service$557,484.00
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