The Erlich Family Buys Retail Property In Homecrest, Brooklyn For $5.45M
SOLD
$5,450,000
New York
See Similar DealsRetail4,500 SF
Sold 02/01/2022
SOLD
The Erlich Family Buys Retail Property In Homecrest, Brooklyn For $5.45M
1706 East 16th Street, Brooklyn, New York 11229, United States
See Similar DealsRetail4,500 SF
Sold 02/01/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,211
Total Square Footage:4,500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$290,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,362.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,835.78
Annual Debt Service$310,029.37
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