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Platinum Realty Associates Acquires Retail Property At 833 Flatbush Avenue For $12.45M

Property Image
SOLD
$12,450,000
Ethan Stanton
Brendan Maddigan
+ 1

New York

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Retail28,242 SF
Sold 09/06/2024
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Property Image
SOLD

Platinum Realty Associates Acquires Retail Property At 833 Flatbush Avenue For $12.45M

833 Flatbush Avenue

See Similar Deals
Retail28,242 SF
Sold 09/06/2024
Ethan Stanton
Brendan Maddigan
+ 1
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$440
Total Square Footage:28,242 SF
Transaction Type:Sale

The property asset involved in the transaction is located at 833 Flatbush Avenue, Brooklyn. It is a retail asset spanning 28,242 square feet and was sold for a price of $12,450,000, which equates to a price per square foot of $440.

Summary of transaction details:

The transaction featured involvement from Platinum Realty Associates as the buyer. The brokerage team representing the parties in this deal includes Ethan Stanton, Brendan Maddigan, Michael Mazzara, and Connor McCullough from JLL, highlighting the expertise behind this retail property transaction.

Players

Brendan Maddigan
125 deals$4.7B volume(508) 733-8445
BROKER

Ethan Stanton
JLL
133 deals$6.1B volume(516) 790-7718
BROKER

Michael Mazzara
JLL
111 deals$3.9B volume(212) 376-5450
BROKER

Connor McCullough
JLL
11 deals$137.4M volume
BROKER

Details

SOLD
IMAGE: Ethan Stanton, Brendan Maddigan, Michael Mazzara & Connor McCullough DATE: 09/06/2024 ADDRESS: 833 Flatbush Avenue MARKET: Brooklyn ASSET TYPE: Retail BUYER: Platinum Realty Associates BROKERS: Ethan Stanton, Brendan Maddigan, Michael Mazzara & Connor McCullough - JLL (@JLL) SALE PRICE: $12,450,000 SF: 28,242 ~ PPSF: $440

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$664,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$44,232.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,019.35
Annual Debt Service$708,232.22