Capital Automotive Acquires Retail Property On Neptune Avenue In Brooklyn For $54M
809 Neptune Avenue, Brooklyn, New York 11224, United States
$54,000,000
$856/SF
Building Size
63,065 SF
Asset Type
Retail
Closing
Aug 2, 2022
About this deal
AI
Capital Automotive has acquired a retail property located at 809 Neptune Avenue in Brooklyn. The property spans 63,065 square feet and was sold by Manuel Kadre. The sale price for the transaction was $54,000,000, resulting in a price per square foot of $856.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $54,000,000
- Date: 08/03/2022
- Market: Brooklyn
- Seller: Manuel Kadre
- Buyer: Capital Automotive
- Image: Jay M. Ferriero
This deal brings together Capital Automotive as the buyer and Manuel Kadre as the seller. The transaction represents a significant investment in the retail property market in Brooklyn.
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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93