Russell Fridman Acquires Retail Property In Brooklyn From Michael Heiney For $6.5M
1464 Rockaway Parkway, Brooklyn, NY 11236, USA
$6,500,000
$556/SF
Building Size
11,680 SF
Asset Type
Retail
Closing
Feb 11, 2018
AI
A retail property located in Brooklyn, New York was recently sold at a transaction value of $6,500,000. The property, situated at 1464 & 1450 Rockaway Parkway, covers an area of 11,680 square feet. The price per square foot for this transaction was $556. The sale took place on February 12, 2018. The seller of the property was Michael Heiney, while the buyer was Russell Fridman.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,500,000
- Address: 1464 & 1450 Rockaway Parkway
- City: New York
- Market: Brooklyn
- Square Footage: 11,680
- Price per Square Foot: $556
Roni Soleimani and Lukas Rociunas-Englert, representing Roni Soleimani & Lukas Rociunas-Englert, acted as the brokers in this sale transaction.
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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93