Pearl Garfinkel Acquires Retail Property In Borough Park For $24.3M
5002 13th Ave, Brooklyn, NY 11219, USA
$24,330,000
$59/SF
Building Size
408,020 SF
Asset Type
Retail
Closing
Sep 1, 2020
About this deal
AI
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.
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
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93