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8513 18th Avenue

Raymond Lui Acquires Retail Property In Bensonhurst, Brooklyn For $2.35M
SOLDRetail

Raymond Lui Acquires Retail Property In Bensonhurst, Brooklyn For $2.35M

8513 18th Avenue

$2,350,000

$1,104/SF

Building Size

2,128 SF

Asset Type

Retail

Closing

Dec 19, 2022

AI

Located in the Bensonhurst neighborhood of Brooklyn, the retail property at 8513 18th Avenue has recently been sold. The sale took place on December 19, 2022, and was facilitated by broker Jeffrey A. Shalom of Cushman & Wakefield. The property spans 2,128 square feet and was sold for a price of $2,350,000, resulting in a price per square foot of $1,104.

Summary of transaction details

  • Property Type: Retail
  • Sale Price: $2,350,000
  • Square Footage: 2,128
  • Address: 8513 18th Avenue
  • Market: Bensonhurst, Brooklyn

The buyer of the property is Raymond Lui, while the seller is Gail Schecter. Raymond Lui worked with broker Jeffrey A. Shalom of Cushman & Wakefield to complete the transaction.

Players

Jeffrey A. Shalom

Cushman & Wakefield

Broker

$52.5M

vol

12 deals

Broker

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

6.75%

Cash-on-Cash

-1.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93