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2470 East 16th Street

Commercial Acquisitions Inc. Acquires Taxpayer Property In Sheepshead Bay, Brooklyn For $1.75M
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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

Arsen Atbashyan

Commercial Acquisitions

Broker

$124.8M

vol

52 deals

Broker

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