David Avgi Acquires Retail Property At 328 Atlantic Avenue Brooklyn For $2.55M
SOLD
$2,550,000
New York
See Similar DealsRetail2,352 SF
Sold 08/15/2024
SOLD
David Avgi Acquires Retail Property At 328 Atlantic Avenue Brooklyn For $2.55M
328 Atlantic Avenue
See Similar DealsRetail2,352 SF
Sold 08/15/2024
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,084
Total Square Footage:2,352 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$136,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,059.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,088.30
Annual Debt Service$145,059.61
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