Hiu Ian Cheng Acquires Retail Property In Bensonhurst, Brooklyn For $7.3M
1925 86th Street
$7,300,000
$337/SF
Building Size
21,622 SF
Asset Type
Retail
Closing
Oct 20, 2022
AI
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.
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