Joe Jemal Sells Retail Property At 3696 Nostrand Avenue Brooklyn For $3.6M With Broker Denis Abayev
3696 Nostrand Avenue
$3,600,000
$306/SF
Building Size
11,731 SF
Asset Type
Retail
Closing
Apr 26, 2026
AI
The property asset involved in this transaction is a retail space located at 3696 Nostrand Avenue in Brooklyn. The sale was completed at a price of $3,600,000, encompassing a total square footage of 11,731, which equates to a price per square foot of $306.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,600,000
- Address: 3696 Nostrand Avenue
- Market: Brooklyn
- Square Footage: 11,731
- Price per Square Foot: $306
- Seller: Joe Jemal
- Broker: Denis Abayev - Commercial Acquisitions
Denis Abayev, representing Commercial Acquisitions, facilitated the transaction on behalf of the seller, Joe Jemal. Additionally, there are leasing opportunities available in the building, with 1,000-5,000 square feet of retail space offered for lease, considering all uses.
Brooklyn 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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93