Arthur Vayner & Lenny Vayner Acquire Retail Property In Mill Basin For $1.88M
2386 Flatbush Avenue, Brooklyn, NY 11234, USA
$1,880,000
$235/SF
Building Size
8,000 SF
Asset Type
Retail
Closing
Nov 4, 2021
About this deal
AI
Located in Mill Basin, this retail property at 2386 Flatbush Ave. has recently been sold in a closed transaction. The property spans 8,000 square feet and is situated in a bustling market. The sale price for this asset was $1,880,000, resulting in a price per square foot of $235.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,880,000
- Address: 2386 Flatbush Ave.
- Market: Mill Basin
- Square Footage: 8,000
Arthur Vayner and Lenny Vayner acted as buyers in this transaction, while Angel Ross represented the seller. Mike Sezan from Asset Commercial Realty Group served as the broker for the deal. It is worth noting that Mike Sezan was exclusively retained by Asset CRG to sell this property, which currently houses a NNN car wash tenant.
If you have similar investment interests or would like your own property appraised, please reach out to Mike Sezan at [email protected] or call 718-578-0546.
On the Map
$1,880,000
$235/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
8.44%
Cash-on-Cash
-2.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93