Crown Acquisitions Acquires Retail Building In Bensonhurst, Brooklyn For $7.7M
6501 18th Ave Brooklyn, NY 11204, USA
$7,700,000
$1,013/SF
Building Size
7,600 SF
Asset Type
Retail
Closing
Jun 29, 2023
About this deal
AI
Crown Acquisitions, represented by Isaac Chera, has purchased the retail building located at 6501 18th Avenue in Bensonhurst, Brooklyn. The property was sold by John Tieri's 6501 18th Avenue Realty LLC for a total of $7.7 million. The retail building spans a total of 7,600 square feet and has a price per square foot of $1,013.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,700,000
- Buyer: Crown Acquisitions - Isaac Chera
- Seller: John Tieri
- Market: Bensonhurst, Brooklyn
- Address: 6501 18th Avenue
- Building Square Footage: 7,600
- Price per Square Foot: $1,013
Crown Acquisitions, led by Isaac Chera, made this significant acquisition in Bensonhurst, Brooklyn. The deal marks another successful investment for Crown Acquisitions in the retail sector. John Tieri, representing 6501 18th Avenue Realty LLC, successfully closed the transaction with Crown Acquisitions.
On the Map
$7,700,000
$1,013/SF
Retail
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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
2.06%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93