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162-11 Jamaica Avenue

Abeco Management Sells Multi-Building Package Deal In Jamaica For $10.5M
SOLDRetail

Abeco Management Sells Multi-Building Package Deal In Jamaica For $10.5M

162-11 Jamaica Avenue

$10,400,000

$179/SF

Building Size

58,000 SF

Asset Type

Retail

Closing

Nov 13, 2024

AI

The asset involved in this transaction is a multi-building package deal located at 162-11 & 162-17 Jamaica Ave in the Jamaica market. The sale price is $10,500,000, with a total square footage of 58,000 and a price per square foot of $181.

Summary of transaction details:

  • Property Type: Multi-Building Package Deal
  • Transaction Amount: $10,500,000
  • Address: 162-11 & 162-17 Jamaica Ave
  • Market: Jamaica
  • Seller: Abeco Management
  • Brokers: Ohad Babo, Barry Fishbach & Isaac Shabot - KSR
  • Square Footage: 58,000
  • Price per Square Foot: $181

The brokers involved in this transaction, Ohad Babo, Barry Fishbach, and Isaac Shabot, represent KSR. They played a crucial role in facilitating this deal for the seller, Abeco Management.

Players

Isaac Shabot

Kassin Sabbagh Realty

Broker

$89.7M

vol

7 deals

Broker
GFI Realty Services
GFI Realty ServicesBrokerage
Newmark
NewmarkBrokerage

Jamaica 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

1.53%

Cash-on-Cash

-0.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93