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Yousef Althkefati Acquires Retail Property On Kings Highway In Midwood, Brooklyn For $14.4M

Property Image
SOLD
$14,375,000

New York

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Retail37,700 SF
Sold 11/01/2021
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Property Image
SOLD

Yousef Althkefati Acquires Retail Property On Kings Highway In Midwood, Brooklyn For $14.4M

943 Kings Highway, Brooklyn, New York 11223, United States

See Similar Deals
Retail37,700 SF
Sold 11/01/2021
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$381
Total Square Footage:37,700 SF
Transaction Type:Sale

The retail property located at 943 Kings Highway in Midwood, Brooklyn has been sold for a price of $14,375,000. The property has a total building square footage (BSF) of 45,662 and a price per BSF (PPBSF) of $315. The lot size is 13,430 square feet, with dimensions of 140.67 ft x 150.83 ft. The total square footage (SF) of the property is 37,700, and the price per square foot (PPSF) is $381. The property is zoned as C4-2, C8-2, OP.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $14,375,000
  • Market: Midwood, Brooklyn
  • Zoning: C4-2, C8-2, OP
  • Buyer: Yousef Althkefati
  • Seller: Bruce Kirshner
  • Total BSF: 45,662
  • PPBSF: $315
  • Total SF: 37,700
  • PPSF: $381
  • Lot Size: 13,430 square feet
  • Last Sale Price: $0 (12/11/2013)
  • Permits: 3 months for permits
  • Lot Dimension: 140.67 ft x 150.83 ft

The buyer of the property is Yousef Althkefati, and the seller is Bruce Kirshner. The property has a floor area ratio (FAR) of 2.81 and falls under tax class 4. The previous sale price of the property was $0 on 12/11/2013. It is important to note that the transaction is a closed deal, and no additional information is available regarding the property or the individuals involved.

Players

10 deals$37.1M volume
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Details

SOLD
IMAGE: 11/01/2021 ADDRESS: 943 Kings Highway MARKET: Midwood,Brooklyn ASSET TYPE: Retail ~ ZONING: C4-2, C8-2, OP BUYER: Yousef Althkefati SELLER: Bruce Kirshner PRICE: $14,375,000 BSF: 45,662 ~ PPBSF: $315 SF: 37,700 ~ PPSF: $381 FAR: 2.81 TAX CLASS: 4 LOT SIZE: 13,430 LAST SALE PRICE: $0 (12/11/2013) PERMITS: 3 months for permits LOT DIMENSION: 140.67 ft x 150.83 ft

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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$51,071.33
Cash-on-Cash Return-1.27%
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