Alexander Levin Acquires South Brooklyn Retail Property For $7.9M
2702 Emmons Ave, Brooklyn, NY 11235, USA
$7,900,000
$1,082/SF
Building Size
7,300 SF
Asset Type
Retail
Closing
Nov 28, 2020
About this deal
AI
Located on Emmons Avenue in South Brooklyn, this retail property at 2702-2712 Emmons Avenue recently sold for a price of $7,900,000. With a total area of 7,300 square feet, the property was sold at an average price of $1,082 per square foot. The property consists of three units, offering a lucrative investment opportunity in the bustling South Brooklyn market.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $7,900,000
- Square Footage: 7,300
- Price per Square Foot: $1,082
- Units: 3
The seller of this retail property was Thomas Lauro, while the buyer was Alexander Levin. The deal was facilitated by a team of brokers, including Scott Plasky, Michael Cimino, Gregory Melanson, Evmorfea Barbatsis-Savidis, and Haralabos Barbatsis, all representing Marcus & [please provide the missing information]. The transaction marks a significant milestone in the commercial real estate market of South Brooklyn.
Players
New York 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
2.01%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93