Hiu Ian Cheng Acquires Retail Property In Bensonhurst, Brooklyn For $7.3M
1917 86th Street
$7,300,000
$337/SF
Building Size
21,622 SF
Asset Type
Retail
Closing
Oct 20, 2022
AI
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.
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
2.17%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93