BLDG Management Acquires Bensonhurst Retail Property For $28M
6502 18th Avenue
$28,000,000
$1,076/SF
Building Size
26,000 SF
Asset Type
Retail
Closing
May 16, 2023
About this deal
AI
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.
On the Map
$28,000,000
$1,076/SF
Retail
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Players
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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93