Maheshchand Ratanji Acquires Retail Property In Brooklyn's Flatbush For $2.45M
SOLD
$2,450,000
New York
See Similar DealsRetail9,307 SF
Sold 11/29/2020
SOLD
Maheshchand Ratanji Acquires Retail Property In Brooklyn's Flatbush For $2.45M
2239 Church Ave, Brooklyn, NY 11226, USA
See Similar DealsRetail9,307 SF
Sold 11/29/2020
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$263
Total Square Footage:9,307 SF
Transaction Type:Sale
A retail property located at 2239 Church Avenue in Brooklyn's Flatbush neighborhood has been sold for a price of $2,450,000. The property spans 9,307 square feet and has an additional 5,554 square feet of buildable space. The sale price per square foot is $263. The transaction involved the seller, Mimi & Ron Sasson, and the buyer, Maheshchand Ratanji.
Summary of transaction details
- Property Type: Retail
- Sale Price: $2,450,000
- Square Footage: 9,307 SF (plus 5,554 BSF)
- Sale Price per Square Foot: $263
- Address: 2239 Church Avenue, Brooklyn, Flatbush
- Market: Brooklyn, Flatbush
The sale of this retail property was facilitated by @AssetCRG, represented by Michelle Abramov and Yuriy Ustoyev.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$130,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,704.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,614.25
Annual Debt Service$139,371.00
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