Adir Cohen Acquires Retail Property In East Flatbush, Brooklyn For $1.75M
1261 Ralph Avenue
$1,750,000
$184/SF
Building Size
9,500 SF
Asset Type
Retail
Closing
Jul 13, 2022
About this deal
AI
Located at 1261 Ralph Ave. in East Flatbush, Brooklyn, this retail property has recently been sold for a price of $1,750,000. The asset, with a size of 9,500 square feet, is a full-block single-story retail strip. The purchase price per square foot amounts to $184, reflecting the market value in the area.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,750,000
- Address: 1261 Ralph Ave., East Flatbush, Brooklyn
- Square Footage: 9,500
- Price per Square Foot: $184
- Buyer: Adir Cohen
- Seller: Sidney Blank
The deal was facilitated by Marcus & Millichap. Scott Plasky and Alex Arustamian, representing Marcus & Millichap, acted as the brokers for the transaction. Their expertise in the market ensured a successful sale.
On the Map
$1,750,000
$184/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
9.06%
Cash-on-Cash
-2.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93