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613 Baltic Street, Park Slo...

Siama Muhammad Acquires Retail Condo In Park Slope For $1.4M
SOLDRetail

Siama Muhammad Acquires Retail Condo In Park Slope For $1.4M

613 Baltic Street, Park Slope, Brooklyn, NY, USA

$1,400,000

$744/SF

Building Size

1,880 SF

Asset Type

Retail

Closing

Mar 31, 2021

AI

A retail condo located at 613 Baltic Avenue in Park Slope has been sold for $1,400,000. The property spans 1,880 square feet, resulting in a price per square foot of $744. The transaction took place on April 1, 2021.

Summary of transaction details

  • Property Type: Retail Condo
  • Transaction Amount: $1,400,000
  • Square Footage: 1,880

The buyer of the retail condo was Siama Muhammad, while the seller was @JDSDevelopmentGroup. The deal was facilitated by brokers Sean Kelly, Stephen Vorvolakos, Jiani Zhou, and David Khukhashvili of @ArielPA.NYC.

Players

David Khukhashvili

Ariel Property Advisors

Broker

$65.1M

vol

10 deals

Broker
JDS Development Group
JDS Development GroupSeller

New York 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

11.33%

Cash-on-Cash

-3.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93