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The Daniel Group Acquires Retail Property On Dumont St. In Brownsville, Brooklyn For $2.9M

Property Image
SOLD
$2,915,000
Scott Plasky
+ 1

New York

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Retail9 SF
Sold 05/12/2022
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Property Image
SOLD

The Daniel Group Acquires Retail Property On Dumont St. In Brownsville, Brooklyn For $2.9M

455 Dumont Avenue, Brooklyn, New York 11212, United States

See Similar Deals
Retail9 SF
Sold 05/12/2022
Scott Plasky
+ 1
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$323,888
Total Square Footage:9 SF
Transaction Type:Sale

Located at 455 Dumont in Brownsville, Brooklyn, this retail property was recently sold in a closed transaction. The property spans an area of 9,864 square feet and is categorized under the asset type of retail. It features two tenants and is prominently anchored by Family Dollar. The deal was facilitated by brokers Scott Plasky and Alex Arustamian of Marcus & Millichap. The transaction took place on 12/05/2022.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,915,000
  • Square Footage: 9,864
  • Price Per Square Foot: $296
  • Market: Brownsville, Brooklyn

The buyer of the property is The Daniel Group, represented by Daniel Cohen. On the other hand, Karen Snyder acted as the seller. The prominent retail property attracted significant attention during the transaction, showcasing its potential as a valuable investment opportunity.

Note from broker: The corner retail property, with its prime location and strong anchor tenant, offers a promising future for the buyers.

Players

Scott Plasky
78 deals$406.4M volume(212) 430-5229
BROKER

Alexander (Alex) Arustamian
Marcus & Millichap
24 deals$116M volume(212) 430-5276
BROKER


2 deals$5.8M volume
SELLER

Details

SOLD
IMAGE: Scott Plasky & Alex Arustamian DATE: 12/05/2022 ADDRESS: 455 Dumont MARKET: Brownsville, Brooklyn ASSET TYPE: Retail BUYER: The Daniel Group (@The_Daniel_Group) - Daniel Cohen SELLER: Karen Snyder BROKERS: Scott Plasky (@PlaskyRetailGroup) & Alex Arustamian (@Alex_Arustamian) - Marcus & Millichap (@MarcusMillichap_NY) SALE PRICE: $2,915,000 SF: 9,864 ~ PPSF: $296 NOTE FROM BROKER: 9,864 SF two-tenant corner retail property anchored by Family Dollar.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$155,466.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,356.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,818.59
Annual Debt Service$165,823.05