NineDot Energy Acquires Retail Building From Lighting Palace In Marine Park, Brooklyn
2138 Flatbush Avenue
$3,800,000
$745/SF
Building Size
5,100 SF
Asset Type
Retail
Closing
Feb 27, 2024
About this deal
AI
The retail building located at 2138 Flatbush Avenue in Marine Park, Brooklyn, was sold for $3,800,000. Spanning 5,100 square feet, the property was purchased by Adam Cohen of NineDot Energy from Lighting Palace.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,800,000
- Buyer: Adam Cohen - NineDot Energy
- Seller: Lighting Palace
- Address: 2138 Flatbush Avenue
- Market: Marine Park, Brooklyn
- Square Footage: 5,100
- Price per Square Foot: $745
NineDot Energy's Trillium Vesper Landco LLC successfully acquired the retail building, finalizing the deal with Lighting Palace's Ecj New York Realty, LLC. The transaction, valued at $3.8 million, highlights the significant investment made by Adam Cohen's company in the Marine Park area of Brooklyn.
On the Map
$3,800,000
$745/SF
Retail
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.17%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93