David Avgi Acquires Retail Property At 328 Atlantic Avenue Brooklyn For $2.55M
328 Atlantic Avenue
$2,550,000
$1,084/SF
Building Size
2,352 SF
Asset Type
Retail
Closing
Aug 15, 2024
AI
The retail property located at 328 Atlantic Avenue in Brooklyn has been sold with a transaction price of $2,550,000. This asset has a total square footage of 2,352, resulting in a price per square foot of $1,084.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,550,000
- Address: 328 Atlantic Avenue
- Market: Brooklyn
- Square Footage: 2,352
- Price per Square Foot: $1,084
- Buyer: David Avgi
- Seller: Itay Ofir
- Broker: David Avgi - Avenues Real Estate
David Avgi represents Avgi Capital Group, which is actively seeking to expand its portfolio by acquiring a variety of property types throughout Brooklyn, Manhattan, and Long Island. The focus includes development sites, mixed-use buildings, value-add rental properties, and 1-2 family homes.
Players
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
6.22%
Cash-on-Cash
-1.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93