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
1925 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 at 1917-1925 86th Street in Bensonhurst, Brooklyn has been sold for a price of $7,300,000. The property spans 21,622 square feet, resulting in a price per square foot of $338.
Summary of transaction details:
- Property Type: Retail
- Sale Price: $7,300,000
- Square Footage: 21,622
- Price Per Square Foot: $338
- Address: 1917-1925 86th Street, Bensonhurst, Brooklyn
- Market: Bensonhurst, Brooklyn
The buyer for this transaction is Hiu Ian Cheng, while the seller is Jack Srour. The broker who facilitated the deal is Jeffrey A. Shalom from Cushman & Wakefield.
Jeffrey A. Shalom, the broker involved in this transaction, has a successful track record in selling properties on or near 86th Street in Brooklyn, having closed over 25 deals in the area.
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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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