Mendy Goldstein Acquires Retail Property In Bay Ridge, Brooklyn For $7.8M
6900 4th Avenue, Brooklyn, NY, USA
$7,800,000
$444/SF
Building Size
17,542 SF
Asset Type
Retail
Closing
Dec 30, 2020
About this deal
AI
The property involved in this closed transaction is a retail asset located at 6900-6912 4th Avenue in Bay Ridge, Brooklyn. The property has a total square footage of 17,542 and is zoned as R7B and C2-3. The transaction took place on December 31, 2020, with a sale price of $7,800,000. The buyer is Mendy Goldstein, and the seller is the Devlin Family. The property was represented by brokers Scott Plasky, Shaun Riney, Mark Zarrella, and Alex Arustamian from New York Multifamily and Marcus & Millichap.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,800,000
- Market: Bay Ridge, Brooklyn
- Zoning: R7B, C2-3
- Buyer: Mendy Goldstein
- Seller: Devlin Family
- Brokers: Scott Plasky, Shaun Riney, Mark Zarrella, Alex Arustamian
The deal's key individuals include Mendy Goldstein as the buyer and the Devlin Family as the seller. The transaction was facilitated by brokers Scott Plasky, Shaun Riney, Mark Zarrella, and Alex Arustamian. This successful transaction demonstrates the expertise and professionalism provided by New York Multifamily and Marcus & Millichap in the Bay Ridge, Brooklyn market.
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
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93