McDonald's Corporation Acquires Retail Building In Kensington, Brooklyn For $3.3M
880 Coney Island Avenue Brooklyn, New York 11218, USA
$3,300,000
$1,141/SF
Building Size
2,890 SF
Asset Type
Retail
Closing
Jun 2, 2023
About this deal
AI
McDonald's Corporation has purchased the retail building at 880 Coney Island Avenue in Kensington, Brooklyn. The property transaction took place on June 2, 2023, with a sale price of $3,300,000. The retail building spans 2,890 square feet and has a price per square foot of $1,142.
Summary of transaction details:
- Property Type: Retail
- Sale Price: $3,300,000
- Building Square Footage: 2,890
- Price per Square Foot: $1,142
- Address: 880 Coney Island Avenue, Kensington, Brooklyn
The seller of the property was Bryan Lazarus, Jack Margolis, Gayle Tapper, Roland G. Finkelman, Barbara Martineau Rosenthal, and Jody LaGreca. McDonald's Corporation was represented by its broker, McDonald's Corporation's REP. The property includes 29,484 square feet of air rights and a total buildable area of 32,400 square feet. The purchase by McDonald's Corporation underscores their investment in the retail market in Kensington, Brooklyn.
On the Map
$3,300,000
$1,141/SF
Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93