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BLDG Management Acquires Bensonhurst Retail Property For $28M
SOLD
$28,000,000
New York
See Similar DealsRetail26,000 SF
Sold 05/16/2023
SOLD
BLDG Management Acquires Bensonhurst Retail Property For $28M
6502 18th Avenue
See Similar DealsRetail26,000 SF
Sold 05/16/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,076
Total Square Footage:26,000 SF
Transaction Type:Sale
BLDG Management has acquired a retail property located at 65-02 18th Avenue in Bensonhurst. This property, with a total square footage of 26,000, was sold by Wharton Properties for a price of $28 million. The transaction resulted in a price per square foot of $1,077.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $28,000,000
- Address: 65-02 18th Avenue, Bensonhurst
- Market: Bensonhurst
Jeff Sutton, representing Wharton Properties, facilitated the sale of this retail property to BLDG Management, led by Lloyd Goldman. The transaction between the two parties occurred on May 16, 2023.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,493,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$99,478.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$132,734.28
Annual Debt Service$1,592,811.42
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