Avi Vizel Acquires Retail Property In Canarsie, Brooklyn For $1.3M
8610 Flatlands Avenue, Brooklyn, NY 11236
$1,335,000
$375/SF
Building Size
3,552 SF
Asset Type
Retail
Closing
Apr 27, 2021
AI
The retail property located at 8610 Flatlands Ave in Canarsie, Brooklyn has been sold for a price of $1,335,000. The transaction took place on April 28, 2021 and the property spans a total area of 3,552 square feet. With a price per square foot of $375, the property offers a 6% capitalization rate. The buyer of the property is Avi Vizel, while the seller is Emanuel Cohen. The sale was facilitated by John Barney of B6 Real Estate.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,335,000
- Square Footage: 3,552 SF
- Price Per Square Foot: $375
- Capitalization Rate: 6%
- Buyer: Avi Vizel
- Seller: Emanuel Cohen
- Broker: John Barney - B6 Real Estate
John Barney of B6 Real Estate played a crucial role as the broker in this transaction. The deal brought together Avi Vizel as the buyer and Emanuel Cohen as the seller. The property at 8610 Flatlands Ave offers a desirable opportunity for retail investment in the Canarsie, 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
11.88%
Cash-on-Cash
-3.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93