Commercial Acquisitions Inc. Acquires Taxpayer Property In Sheepshead Bay, Brooklyn For $1.75M
2470 East 16th Street
$1,750,000
$277/SF
Building Size
6,313 SF
Asset Type
Retail
Closing
Dec 3, 2023
AI
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.
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
9.06%
Cash-on-Cash
-2.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93