The Erlich Family Buys Retail Property In Homecrest, Brooklyn For $5.45M
1706 East 16th Street, Brooklyn, New York 11229, United States
$5,450,000
$1,211/SF
Building Size
4,500 SF
Asset Type
Retail
Closing
Jan 31, 2022
About this deal
AI
The retail property located at 1706 East 16th St. in Homecrest, Brooklyn has been sold for a price of $5,450,000. The property spans a total area of 4,500 square feet, resulting in a price per square foot of $1,211. The transaction took place on February 1, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,450,000
- Address: 1706 East 16th St., Homecrest, Brooklyn
- Square Footage: 4,500
- Price per Square Foot: $1,211
- Market: Homecrest, Brooklyn
The buyer of the property is The Erlich Family, while the seller is The Yoo Family. Representing the buyer in the deal is Marcel Fridman from the Barcel Group.
On the Map
$5,450,000
$1,211/SF
Retail
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Players
Brooklyn 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
2.91%
Cash-on-Cash
-0.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93