Mahmood Alam Acquires Retail Property In Brownsville, Brooklyn For $1.25M
460 Rockaway Ave Brooklyn, NY 11212, USA
$1,250,000
$193/SF
Building Size
6,450 SF
Asset Type
Retail
Closing
Jul 27, 2023
AI
The retail property located at 460 Rockaway Avenue in Brownsville, Brooklyn has been sold. The transaction took place on 07/27/2023, with a sale price of $1,250,000. The property spans 6,450 square feet and has a price per square foot of $194.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,250,000
- Address: 460 Rockaway Avenue, Brownsville, Brooklyn
- Market: Brownsville, Brooklyn
The buyer of the property is Mahmood Alam, while the sellers are Ira Krell and Matt Bardach. The transaction was facilitated by Ron Cohen and Gabriella Schwalbe, brokers from Besen Partners.
Players
New York 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
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93