SOLDRetail
Modos Satmar Acquires Retail Property From Peter Gotlieb For $11.91M In Brooklyn
5901 Bay Parkway
$11,914,000
$1,191/SF
Building Size
10,000 SF
Asset Type
Retail
Closing
Mar 4, 2026
AI
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.
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
1.33%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93