Mahmood Alam Acquires Retail Property In Brownsville, Brooklyn For $1.25M
SOLD
$1,250,000
New York
See Similar DealsRetail6,450 SF
Sold 07/27/2023
SOLD
Mahmood Alam Acquires Retail Property In Brownsville, Brooklyn For $1.25M
460 Rockaway Ave Brooklyn, NY 11212, USA
See Similar DealsRetail6,450 SF
Sold 07/27/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$193
Total Square Footage:6,450 SF
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$66,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,440.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,925.64
Annual Debt Service$71,107.65
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