Aziz Tareb Acquires Retail Property In Red Hook For $7.2M
521 Columbia Street, Brooklyn, New York 11231, United States
$7,200,000
$536/SF
Building Size
13,410 SF
Asset Type
Retail
Closing
Apr 10, 2022
About this deal
AI
The retail property located at 521-527 Columbia Street in Red Hook has been sold in a recent transaction. The property spans 13,410 square feet and was sold for a total price of $7,200,000. This translates to a price per square foot of $537.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,200,000
- Address: 521-527 Columbia Street, Red Hook
- Market: Red Hook
The buyer, Aziz Tareb, acquired the property from the seller, RAP Columbia LLC. Both parties were represented by their respective brokers in the transaction.
On the Map
$7,200,000
$536/SF
Retail
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Players
Brooklyn 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
2.20%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93