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.
On the Map
$9,800,000
$2,545/SF
Retail
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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