Elliot Chehebar Acquires Retail Property In Brooklyn For $4M
SOLD
$4,000,000
New York
See Similar DealsRetail6,800 SF
Sold 12/24/2020
SOLD
Elliot Chehebar Acquires Retail Property In Brooklyn For $4M
151 Montague Street, Brooklyn, NY, USA
See Similar DealsRetail6,800 SF
Sold 12/24/2020
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$588
Total Square Footage:6,800 SF
Transaction Type:Sale
The retail property located at 151 Montague St in Brooklyn has been sold for a price of $4,000,000. The property has a total square footage of 6,800 and a price per square foot of $588. The buyer of the property is Elliot Chehebar, while Frame Realty, represented by Alan Fernand, acted as the seller. The transaction took place on 12/24/2020. The property is zoned as R7-1, C1-3, making it suitable for retail use.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,000,000
- Address: 151 Montague St
- Market: Brooklyn
- Zoning: R7-1, C1-3
- Buyer: Elliot Chehebar
- Seller: Frame Realty - Alan Fernand
Elliott Chehebar acquired the property located at 151 Montague St in a closed transaction. Frame Realty, represented by Alan Fernand, acted as the seller in the deal. The property's features and zoning make it suitable for retail purposes, offering potential for future business opportunities.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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