Alex Weiss Acquires Sheepshead Bay Retail Property From Miriam Barker For $8M
224 Brighton Beach Avenue, Brooklyn, NY, USA
$8,000,000
$629/SF
Building Size
12,713 SF
Asset Type
Retail
Closing
Dec 16, 2020
About this deal
AI
Located at 224 Brighton Beach Avenue, in Sheepshead Bay, Brooklyn, this retail property was recently sold in a closed transaction. The asset offers a total square footage of 12,713 and is zoned for both R6 and C1-2. The property, listed under the market of Sheepshead Bay, Brooklyn, features a price of $8,000,000 and a building square footage (BSF) of 30,893. The price per building square foot (PPBSF) is estimated at $258, while the price per square foot (PPSF) reaches $629. With a capitalization rate (CAP) of 5.3%, this property presents a noteworthy investment opportunity.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,000,000
- Address: 224 Brighton Beach Avenue
- Market: Sheepshead Bay, Brooklyn
- Asset Type: Retail
- Zoning: R6, C1-2
In this transaction, the buyer was Alex Weiss, while the seller was Miriam Barker. Facilitating the deal was Greg Melanson from B6RealEstate, serving as the broker on behalf of the buyer. The transaction closed on December 17, 2020, making it a recent sale in the market.
On the Map
$8,000,000
$629/SF
Retail
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Players
Brooklyn 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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93