BLDG Management Acquires Retail Property In Brooklyn For $17.25M
2076 86th Street, Brooklyn, NY, USA
$17,250,000
$2,209/SF
Building Size
7,806 SF
Asset Type
Retail
Closing
May 19, 2021
About this deal
AI
The property at 2076-2084 86th Street in Brooklyn has been sold in a transaction that closed on May 20, 2021. The asset is a retail building with a total area of 7,806 square feet. The property is zoned as C4-2.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $17,250,000
- Address: 2076-2084 86th Street, Brooklyn
- Market: Brooklyn
BLDG Management, represented by Lloyd Goldman, acquired the property from Wharton Properties, represented by Jeff Sutton and Joseph Sutton. The buyer's broker was Chris Sheldon, Jordan Sutton, Robert Shapiro, and Andreas Efthymiou from CushWake and TeamShapiroBuildingSales. The seller was represented by the same brokers.
The property has two tenants: Chipotle and Bank of America. Both tenants have signed brand new 15-year net leases in the recently renovated building.
For more information about this property or similar opportunities, interested parties can contact the listing brokers.
On the Map
$17,250,000
$2,209/SF
Retail
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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
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93