Modos Satmar Acquires Retail Property From Peter Gotlieb For $11.91M In Brooklyn
SOLD
$11,914,000
New York
See Similar DealsRetail10,000 SF
Sold
SOLD
Modos Satmar Acquires Retail Property From Peter Gotlieb For $11.91M In Brooklyn
5901 Bay Parkway
See Similar DealsRetail10,000 SF
Sold
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1191
Total Square Footage:10000 SF
Transaction Type:Sale
The retail asset located at 5901 Bay Parkway in Brooklyn has been sold for $11,914,000. The property encompasses a total area of 20,000 square feet, resulting in a price per square foot of $596.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $11,914,000
- Buyer: Modos Satmar
- Seller: Peter Gotlieb
- Seller's Representative: Richard Senior & Esther Bukai - Ripco
- Square Footage: 20,000
- Price Per Square Foot: $596
The transaction marks the purchase of the site by Satmar, which plans to erect a Yeshivah on the property, signifying a development commitment in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$635,413.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,327.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,478.44
Annual Debt Service$677,741.26
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