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Bibi Salim Acquires Retail Property From Joey Betesh In East Flatbush

Property Image
SOLD
$1,999,500
Alexander (Alex) Arustamian
Jermaine Pugh
Scott Plasky

New York

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Retail5,500 SF
Sold 06/05/2024
the dealplayerscompscontact
Property Image
SOLD

Bibi Salim Acquires Retail Property From Joey Betesh In East Flatbush

5412 Church Avenue

See Similar Deals
Retail5,500 SF
Sold 06/05/2024
Alexander (Alex) Arustamian
Jermaine Pugh
Scott Plasky
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$363
Total Square Footage:5,500 SF
Transaction Type:Sale

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:

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

Jermaine Pugh
Matthews
Jermaine Pugh
24 deals$86.1M volume(201) 850-0762
BROKER
Scott Plasky
Marcus & Millichap
Scott Plasky
78 deals$406.4M volume(212) 430-5229
BROKER
Alexander (Alex) Arustamian
Marcus & Millichap
Alexander Arustamian
24 deals$116M volume(212) 430-5276
BROKER

Details

SOLD
IMAGE: Scott Plasky, Alexander Arustamian & Jermaine Pugh DATE: 06/05/2024 ADDRESS: 5412 Church Avenue MARKET: East Flatbush, Brooklyn ASSET TYPE: Retail BUYER: Bibi Salim SELLER: Joey Betesh - Abeco Management BROKERS: Scott Plasky (@PlaskyRetailGroup) & Alexander Arustamian - Marcus & Millichap (@MarcusMillichapInc) & Jermaine Pugh (@JermainePugh_Matthews) - Matthews Real Estate Investment Services (@Matthews_REIS) SALE PRICE: $1,999,500 SF: 5,500 ~ PPSF: $364 NOTE FROM BROKER: This is a 5,500 SF single-story retail property comprised of three units and a 9-car parking lot. The property was delivered with approximately 3K SF vacant, and it was sold to an end user.

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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,103.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,478.65
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