Commercial Acquisitions Inc. Acquires Taxpayer Property In Sheepshead Bay, Brooklyn For $1.75M
SOLD
$1,750,000
New York
See Similar DealsRetail6,313 SF
Sold 12/03/2023
SOLD
Commercial Acquisitions Inc. Acquires Taxpayer Property In Sheepshead Bay, Brooklyn For $1.75M
2470 East 16th Street
See Similar DealsRetail6,313 SF
Sold 12/03/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$277
Total Square Footage:6,313 SF
Transaction Type:Sale
The recently closed property transaction in Sheepshead Bay, Brooklyn involved a taxpayer asset located at 2470 East 16th Street. The property spans approximately 6,313 square feet and was sold for a price of $1,750,000, resulting in a price per square foot of $277.
Summary of transaction details:
- Property Type: Taxpayer
- Transaction Amount: $1,750,000
- Square Footage: 6,313
- Price per Square Foot: $277
- Address: 2470 East 16th Street
- Market: Sheepshead Bay, Brooklyn
The seller of the property was Charles Pearlman. Representing the buyer in this transaction was Denis Abayev from Commercial Acquisitions Inc., while Arsen Atbashyan, also from Commercial Acquisitions Inc., served as the seller's representative.
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$93,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,217.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,295.89
Annual Debt Service$99,550.71
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