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1957 Flatbush Avenue Retail Property In Brooklyn Sold For $950,000

Property Image
SOLD
$950,000

New York

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Retail2,712 SF
Sold
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Property Image
SOLD

1957 Flatbush Avenue Retail Property In Brooklyn Sold For $950,000

1957 Flatbush Avenue

See Similar Deals
Retail2,712 SF
Sold
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$350
Total Square Footage:2712 SF
Transaction Type:Sale

The property asset involved in the transaction is located at 1957 Flatbush Avenue, Brooklyn. It encompasses a two-story mixed-use building with a total area of approximately 2,712 square feet. The sale transaction was finalized at a price of $950,000, equating to $351 per square foot. The building consists of four units, which comprise two residential units and two ground floor vacant units. Built in 1931, the property features 18 feet of frontage and is situated close to the Brooklyn College–Flatbush Station on the subway.

Summary of transaction details:

In this transaction, Ronnie Shaban from Kassin Sabbagh Realty represented the buyer, while Matthew Leist from Prime Real Estate Advisors represented the seller. This involvement of experienced representatives highlights the professional facilitation of the deal, ensuring that both parties were supported throughout the transaction process.

Players

Ronnie Shaban
6 deals$21.8M volume
BROKER

Details

SOLD
IMAGE: 03/07/2019 ADDRESS: 1957 Flatbush Avenue MARKET: Brooklyn ASSET TYPE: Retail BUYER'S REP: Ronnie Shaban-Kassin Sabbagh Realty SELLER'S REP: Matthew Leist-Prime Real Estate Advisors BUYER: Unknown SELLER: Unknown PRICE: $950,000.00 SF: 2712

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$50,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,375.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,503.48
Annual Debt Service$54,041.82