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Avi Vizel Acquires Retail Property In Canarsie, Brooklyn For $1.3M

Property Image
SOLD
$1,335,000

New York

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Retail3,552 SF
Sold 04/28/2021
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Property Image
SOLD

Avi Vizel Acquires Retail Property In Canarsie, Brooklyn For $1.3M

8610 Flatlands Avenue, Brooklyn, NY 11236

See Similar Deals
Retail3,552 SF
Sold 04/28/2021
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$375
Total Square Footage:3,552 SF
Transaction Type:Sale

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

John Barney
21 deals$109.5M volume(212) 256-1795
BROKER

B6 Real Estate Advisors
BROKERAGE

Details

SOLD
IMAGE: John Barney DATE: 04/28/2021 ADDRESS: 8610 Flatlands Ave. MARKET: Canarsie, Brooklyn ASSET TYPE: Retail BUYER: Avi Vizel SELLER: Emanuel Cohen BROKER: John Barney (@JohnBarney35) @B6RealEstate SALE PRICE: $1,335,000 SF: 3,552 ~ PPSF: $375 CAP: 6%

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

$71,200.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,742.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,328.58
Annual Debt Service$75,942.97