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Hidrock Properties Acquires Retail Property On Flatbush Avenue For $7M

Property Image
SOLD
$7,000,000
Daniel (Dan) Lebor
Dan Marks
+ 1

New York

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Retail47,910 SF
Sold
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Property Image
SOLD

Hidrock Properties Acquires Retail Property On Flatbush Avenue For $7M

182 Flatbush Ave, Brooklyn, NY 11217, USA

See Similar Deals
Retail47,910 SF
Sold
Daniel (Dan) Lebor
Dan Marks
+ 1
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$146
Total Square Footage:47910 SF
Transaction Type:Sale

Located at 182 Flatbush Avenue in Park Slope, near Barclays Center, this retail property was recently involved in a closed transaction. The property spans 4,791 square feet and was sold for $7,000,000, equating to a price per square foot of $1,461. The seller, RedSky Capital, was represented by Ben Bernstein. On the buyer's side, Hidrock Properties, represented by Jack A. Hidary, Abraham J. Hidary, Eddie Hidary, Steven Hidary, Joseph Terzi, Ofer Cohen, Daniel Lebor, and Dan Marks, acquired the property.

Summary of Transaction Details

  • Property Type: Retail
  • Transaction Amount: $7,000,000
  • Square Footage: 4,791
  • Price Per Square Foot: $1,461
  • Seller: RedSky Capital – Ben Bernstein
  • Buyer: Hidrock Properties – Jack A. Hidary, Abraham J. Hidary, Eddie Hidary, Steven Hidary, Joseph Terzi, Ofer Cohen, Daniel Lebor, Dan Marks

The deal involved key individuals such as Jack A. Hidary, Abraham J. Hidary, Eddie Hidary, Steven Hidary, Joseph Terzi, Ofer Cohen, Daniel Lebor, and Dan Marks, who represented Hidrock Properties in the transaction. Additionally, Ben Bernstein acted as the representative for RedSky Capital. These individuals and companies played a crucial role in the successful completion of the deal.

Players

Daniel (Dan) Lebor
50 deals$986.7M volume
BROKER

Ofer Cohen
Terra CRG
25 deals$606.2M volume
BROKER

Dan Marks
Terra CRG
48 deals$904.6M volume
BROKER

Ben Bernstein
RedSky Capital
6 deals$129.7M volume
SELLER

Details

SOLD
IMAGE: Jack Hidary, Abraham Hidary, Eddie Hidary, Steven Hidary, Joseph Terzi, Ofer Cohen, Daniel Lebor, Dan Marks DATE: 11/20/2019 ADDRESS: 182 Flatbush Avenue MARKET: Park Slope, Barclays Center ASSET TYPE: Retail SALE PRICE: $7,000,000 SF: 4,791 PPSF: $1,461 SELLER: RedSky Capital – Ben Bernstein BUYER: Hidrock Properties – Jack A. Hidary, Abraham J. Hidary, Eddie […]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$373,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85