SOLD
Kevin Zhu Acquires Mixed-Use Property On Avenue U In Sheepshead Bay For $3.75M
1402 Avenue U
Mixed-use
13,600 SF
13,600 SF
Sold 1 year ago
Summary
Sale
NEW YORK
Mixed-use
13,600 sqft
The property located at 1402 Avenue U in Sheepshead Bay has been sold in a recent transaction. This mixed-use asset is zoned as R5, C1-3 and offers a total square footage of 13,600. The property consists of 12 rent-stabilized apartments and 6 retail spaces.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,750,000
- Market: Sheepshead Bay
- Address: 1402 Avenue U
Kevin Zhu was the buyer in this transaction, while the seller was Jeff Strisko. The deal was facilitated by John Brennan from Marcus & Millichap, representing both parties. The property was sold fully occupied at a 5.6% cap rate, making it an attractive investment opportunity.
Note from Broker: The Brennan Team of Marcus & Millichap exclusively handled this transaction.
Players
All
2
Agents
1
Agencies
1
Details
SOLD
IMAGE: John Brennan
DATE: 08/25/2021
ADDRESS: 1402 Avenue U
MARKET: Sheepshead Bay
ASSET TYPE: Mixed-use ~ ZONING: R5, C1-3
BUYER: Kevin Zhu
SELLER: Jeff Strisko
BROKER: John Brennan - Marcus & Millichap
ASKING PRICE: $3,900,000
SALE PRICE: $3,750,000
SF: 13,600 ~ PPSF: $275
CAP RATE: 5.6%
NOTE FROM BROKER: The Brennan Team of Marcus & Millichap exclusively handled this transaction. The property consists of 12 rent-stabilized apartments and 6 retail spaces. Sold fully occupied at a 5.6% cap rate.View on map
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Address1402 Avenue U
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