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1672 Sheepshead Bay Road, B...

Triborough Gi Realty, LLC Acquires Sheepshead Bay Rd Retail For $3M
SOLDRetail

Triborough Gi Realty, LLC Acquires Sheepshead Bay Rd Retail For $3M

1672 Sheepshead Bay Road, Brooklyn, NY 11235, USA

$3,000,000

$428/SF

Building Size

7,005 SF

Asset Type

Retail

Closing

Aug 21, 2019

AI

A retail property located at 1672 & 1674 Sheepshead Bay Rd in Sheepsheadbay, Brooklyn, was recently sold for $3,000,000. The transaction took place on August 22, 2019. The property spans over 7,005 square feet and has a price per square foot of $428.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $3,000,000
  • Address: 1672 & 1674 Sheepshead Bay Rd, Sheepsheadbay, Brooklyn
  • Date: August 22, 2019
  • Square Footage: 7,005
  • Price per Square Foot: $428

The seller of the property was Sterling National Bank - James P. Blose, while the buyer was Triborough Gi Realty, LLC - Alexander Brun & Igor Grosman. The deal was facilitated by Arsen Atbashyan from Carealty Inc.

Players

Arsen Atbashyan

Commercial Acquisitions

Broker

$124.8M

vol

52 deals

Broker

Igor Grosman

Buyer

$6.7M

vol

2 deals

Buyer
Sterling National Bank
Sterling National BankSeller
Sterling National Bank
Sterling National BankLender

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

5.29%

Cash-on-Cash

-1.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93