Pearl Garfinkel Acquires Retail Property In Borough Park For $24.3M
SOLD
$24,330,000
New York
See Similar DealsRetail408,020 SF
Sold 09/02/2020
SOLD
Pearl Garfinkel Acquires Retail Property In Borough Park For $24.3M
5002 13th Ave, Brooklyn, NY 11219, USA
See Similar DealsRetail408,020 SF
Sold 09/02/2020
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$59
Total Square Footage:408,020 SF
Transaction Type:Sale
A retail property located at 5002 13th Avenue in Borough Park was recently sold. The property has a total square footage of 40,802, with a price per square foot of $596. The sale price for the property was $24,330,000.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $24,330,000
- Market: Borough Park
- Address: 5002 13th Avenue
- BSF: 61,951
- PPBSF: $392
- SF: 40,802
- PPSF: $596
The buyer of the property is Pearl Garfinkel, while Charles Herzka acted as the seller. The property is zoned as C4-3 and had a previous sale price of $25,000,000 in April 2015. The lot size measures 90 ft x 200.35 ft, equivalent to 18,232 square feet.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,297,600.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$86,439.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$115,336.61
Annual Debt Service$1,384,039.35
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