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Tashkent Supermarket Buys Retail Asset In Sheepshead Bay, Brooklyn For $16M
SOLD
$16,000,000
New York
See Similar DealsRetail
Sold 06/11/2024
SOLD
Tashkent Supermarket Buys Retail Asset In Sheepshead Bay, Brooklyn For $16M
2837 Coney Island Avenue
See Similar DealsRetail
Sold 06/11/2024
Summary
NEW YORK
Asset Type:Retail
Transaction Type:Sale
The property at 2837 Coney Island Avenue in Sheepshead Bay, Brooklyn, was involved in a recent transaction. The asset, a retail property, was sold for $16,000,000 to Tashkent Supermarket by seller Ilhanan Israilov.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $16,000,000
- Address: 2837 Coney Island Avenue
- Market: Sheepshead Bay, Brooklyn
- Buyer: Tashkent Supermarket
- Seller: Ilhanan Israilov
Tashkent Supermarket's acquisition of the former Freddy's Market site at 2837 Coney Island Ave for $16 million marks a strategic move by the local grocery store chain to expand its presence. The deal involves the seller, Ilhanan Israilov, and showcases the supermarket's commitment to growth and expansion within the market.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$853,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95
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