Bibi Salim Acquires Retail Property From Joey Betesh In East Flatbush
5412 Church Avenue
$1,999,500
$363/SF
Building Size
5,500 SF
Asset Type
Retail
Closing
Jun 5, 2024
About this deal
AI
The property at 5412 Church Avenue in East Flatbush, Brooklyn, is a 5,500 SF single-story retail asset consisting of three units and a 9-car parking lot. The property was sold for $1,999,500 at a price per square foot of $364, with approximately 3,000 SF vacant at the time of sale.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,999,500
- Buyer: Bibi Salim
- Seller: Joey Betesh - Abeco Management
- Brokers:
- Address: 5412 Church Avenue
- Market: East Flatbush, Brooklyn
The property was acquired by an end-user, completing a transaction that involved key individuals such as Scott Plasky and Alexander Arustamian from Marcus & Millichap, as well as Jermaine Pugh from Matthews Real Estate Investment Services.
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93