Russell Fridman Acquires Retail Property In Brooklyn From Michael Heiney For $6.5M
SOLD
$6,500,000
New York
See Similar DealsRetail11,680 SF
Sold 02/12/2018
SOLD
Russell Fridman Acquires Retail Property In Brooklyn From Michael Heiney For $6.5M
1464 Rockaway Parkway, Brooklyn, NY 11236, USA
See Similar DealsRetail11,680 SF
Sold 02/12/2018
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$556
Total Square Footage:11,680 SF
Transaction Type:Sale
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.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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