Michael Podolsky Acquires Retail Property On Nostrand Avenue In Midwood/Brooklyn For $2.3M
2356 Nostrand Ave, Brooklyn, NY 11210, USA
Building Size
4,200 SF
Asset Type
Retail
Closing
Sep 5, 2018
AI
A retail property located at 2356 Nostrand Avenue in the Midwood/Brooklyn market has recently been sold for a price of $2,300,000. The property spans over 4,200 square feet, resulting in a price per square foot of $547.
Summary of transaction details
- Property Type: Retail
- Sale Price: $2,300,000
- Square Footage: 4,200
- Price per Square Foot: $547
- Address: 2356 Nostrand Avenue
- Market: Midwood/Brooklyn
The seller of the property was Michael DeVaynes, while the buyer was Michael Podolsky. Representing the seller and procuring the buyer in this transaction were CPEX Real Estate brokers Dimitri P. Venekas and Timothy D. King.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93