Abraham Lazer Kviat Acquires Retail Property In Borough Park, Brooklyn For $5.5M
1462 39th Street, Brooklyn, New York 11218, United States
$5,500,000
$583/SF
Building Size
9,425 SF
Asset Type
Retail
Closing
Nov 11, 2021
AI
The retail property located at 1462 39th Street in Borough Park, Brooklyn was sold on November 12, 2021. The property has a total square footage of 9,425 and sits on a lot size measuring 100 ft x 95.17 ft. The zoning for the property is M1-2, which allows for various commercial and light industrial uses.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,500,000
- Buyer: Abraham Lazer Kviat
- Seller: Abraham Malek
- Building Square Footage: 18,850
- Price per Building Square Foot: $292
- Price per Square Foot: $584
- Floor-Area Ratio (FAR): 1.00
- Tax: 4
- Last Sale Price: $0 (10/7/2013)
Abraham Lazer Kviat was the buyer of the property, while Abraham Malek acted as the seller. This transaction represents a significant deal in the Borough Park market, showcasing the demand for retail properties in the area.
Players
New York 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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93