BK Developers Acquires Marine Park Retail Property For $12.26M With Brokers Amit Doshi & Shallini Mehra
2484 Flatbush Avenue, Brooklyn, New York 11234, United States
$12,260,000
$335/SF
Building Size
36,600 SF
Asset Type
Retail
Closing
May 11, 2022
AI
The retail property located at 2484-2488 Flatbush Avenue, 4202-4204, 4206-4208, 4101-4103, 4105-4107 & 4113-4123 Avenue U in Marine Park has been sold for a total of $12,260,000. The property spans approximately 36,600 square feet and was purchased by BK Developers from the Forman Family. The sale price translates to a price per square foot of $334.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $12,260,000
- Square Footage: 36,600
- Buyer: BK Developers
- Seller: Forman Family
The transaction was facilitated by brokers Amit Doshi and Shallini Mehra from Meridian Capital Group.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.29%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93