Joseph Althkefati Acquires Retail Property In Midwood For $14.4M
945 Kings Highway
$14,375,000
$380/SF
Building Size
37,738 SF
Asset Type
Retail
Closing
Nov 1, 2021
About this deal
AI
The property involved in this transaction is a retail space located at 945 Kings Highway in the Midwood market. The sale occurred on November 1, 2021, and the asset spans a total of 37,738 square feet. The property was sold for a price of $14,375,000, resulting in a price per square foot of $380.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $14,375,000
- Address: 945 Kings Highway
- Market: Midwood
Joseph Althkefati acted as the buyer in this transaction, while Bruce Kirschner was the seller. Josh Augenbaum from Augenbaum Realty Corp represented the buyer, and Nick Zweig from Location Commercial Real Estate and Jack Beyda from Eastern Union represented the seller.
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
1.10%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93