Hiu Ian Cheng Acquires Retail Property For $7.3M In Bensonhurst, Brooklyn
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 for a total price of $7,300,000. The property spans a total area of 21,622 square feet, resulting in a price per square foot of $338. The transaction took place on October 20, 2022, with Hiu Ian Cheng as the buyer and Jack Srour as the seller. The sale was facilitated by Jeffrey A. Shalom from Cushman & Wakefield. The property is situated in the Bensonhurst market of Brooklyn.
Summary of Transation Details
- Property Type: Retail
- Transaction Amount: $7,300,000
- Square Footage: 21,622
- Price Per Square Foot: $338
- Address: 1917-1925 86th Street, Bensonhurst, Brooklyn
- Market: Bensonhurst, Brooklyn
Jeffrey A. Shalom, the broker representing the transaction, has a notable record of selling over 25 properties on or near 86th Street in Brooklyn.
Players
New York 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