Gazit Horizons Acquires Retail Property In Park Slope For $17.25M
SOLD
$17,250,000
+ 2
New York
See Similar DealsRetail19,992 SF
Sold 12/17/2021
SOLD
Gazit Horizons Acquires Retail Property In Park Slope For $17.25M
555 5th Avenue, Brooklyn, NY 11215
See Similar DealsRetail19,992 SF
Sold 12/17/2021
+ 2
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$862
Total Square Footage:19,992 SF
Transaction Type:Sale
A retail property located at 555 5th Avenue in Park Slope has been sold in a closed transaction. The asset type for this property is retail and it falls under the zoning category of C4-3A. The transaction took place on 12/17/2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $17,250,000
- Square Footage: 19,992
- Price per Square Foot: $862
- Address: 555 5th Avenue, Park Slope
Gazit Horizons was the buyer in this transaction, while Peter Botsaris served as the seller. The deal was facilitated by the brokers Brendan Maddigan, Ethan Stanton, Stephen Palmese, Michael Mazzara, and Winfield Clifford from JLL.
Players
BROKERAGE
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$919,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$61,285.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$81,773.80
Annual Debt Service$981,285.61
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