Jackson Group Acquires Crown Heights Retail Property For $13.9M
SOLD
$13,900,000
New York
See Similar DealsRetail590,210 SF
Sold 02/28/2020
SOLD
Jackson Group Acquires Crown Heights Retail Property For $13.9M
250 Utica Ave, Brooklyn, NY 11213, USA
See Similar DealsRetail590,210 SF
Sold 02/28/2020
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$23
Total Square Footage:590,210 SF
Transaction Type:Sale
The retail property located at 250 Utica Avenue in Crown Heights has been sold in a closed transaction. The property spans a total of 59,021 square feet and was sold for a price of $13,900,000, resulting in a price per square foot of $236. The transaction took place on February 28, 2020. The buyer of the property is the Jackson Group, represented by Elliot Chehebar. The seller of the property is L+M Development Partners.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $13,900,000
- Square Footage: 59,021
- Price per Square Foot: $236
- Buyer: Jackson Group - Elliot Chehebar
- Seller: L+M Development Partners
Ron Moelis and Elliott Chehebar were involved in the transaction as depicted in the provided image.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$741,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$49,383.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$65,893.09
Annual Debt Service$790,717.10
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