Shahriar Ali And Zain Ali Acquire Retail Property At 1800 Flatbush Avenue For $1.725M

The retail property located at 1800 Flatbush Avenue in Brooklyn comprises four street-front retail spaces, totaling 3,740 square feet. It was sold for $1,725,000, which translates to a price per square foot of approximately $461.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $1,725,000
• Buyer: Shahriar Ali & Zain Ali
• Seller: Kyeongjae Ben Lee
• Seller's Representative: Li (Barbie) Li - B Square Realty
• Cap Rate: Approximately 6.4%
• Market: Brooklyn
• Parking Spaces: Four

The transaction was notably facilitated by Li (Barbie) Li from B Square Realty, who represented the seller. Through strategic marketing efforts, the property was repositioned and successfully sold in under 30 days to an all-cash buyer, emphasizing the income stability of the existing leases and enhancing the overall investment appeal.