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328 Atlantic Avenue

David Avgi Acquires Retail Property At 328 Atlantic Avenue Brooklyn For $2.55M
SOLDRetail

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

David Avgi

Avenues Real Estate

Broker

$81.2M

vol

24 deals

Broker

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