Hiu Ian Cheng Acquires Retail Property In Bensonhurst, Brooklyn For $7.3M
SOLD
$7,300,000
New York
See Similar DealsRetail21,622 SF
Sold 10/20/2022
SOLD
Hiu Ian Cheng Acquires Retail Property In Bensonhurst, Brooklyn For $7.3M
1917 86th Street
See Similar DealsRetail21,622 SF
Sold 10/20/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$337
Total Square Footage:21,622 SF
Transaction Type:Sale
The retail property located at 1917-1925 86th Street in Bensonhurst, Brooklyn, has been sold. The transaction took place on October 20, 2022. The property spans 21,622 square feet and has been sold for a price of $7,300,000, resulting in a price per square foot of $338. The buyer is Hiu Ian Cheng and the seller is Jack Srour.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,300,000
- Square Footage: 21,622
- Price per Square Foot: $338
- Market: Bensonhurst, Brooklyn
Jack Srour represented the seller in this transaction as the seller's broker.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$389,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,935.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,605.72
Annual Debt Service$415,268.69
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