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521 Columbia Street, Brookl...

Aziz Tareb Acquires Retail Property In Red Hook For $7.2M
SOLDRetail

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

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.

Players

Joshua Pomerantz

SP Capital Group

Broker

$142.6M

vol

31 deals

Broker

Aziz Tareb

Buyer

$32.2M

vol

7 deals

Buyer

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

2.20%

Cash-on-Cash

-0.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93