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1414 Utica Avenue, East Fla...

Mark Koplowitz Acquires East Flatbush Office Building For $2.05M
SOLDOffice

Mark Koplowitz Acquires East Flatbush Office Building For $2.05M

1414 Utica Avenue, East Flatbush, Brooklyn, NY, USA

$2,050,000

$211/SF

Building Size

9,680 SF

Asset Type

Office

Closing

Aug 26, 2021

AI

The office property located at 1414 Utica Avenue in East Flatbush has been sold in a recent transaction. The property, with a total area of 9,680 square feet, is zoned for industrial use (M1-1). The sale took place on August 26, 2021, with a sale price of $2,050,000. This translates to a price per square foot of $211.

Summary of Transaction Details

  • Property Type: Office
  • Transaction Amount: $2,050,000
  • Market: East Flatbush
  • Zoning: M1-1

The buyer in this transaction is Mark Koplowitz, while the seller is Kenrick Cort. The deal was facilitated by Greg Corbin and Chaya Milworn from the Rosewood Realty Group.

Players

Chaya Milworn

Northgate Real Estate Group

Broker

$515.7M

vol

35 deals

Broker
Rosewood Realty Group
Rosewood Realty GroupBrokerage

Mark Koplowitz

Buyer

$24M

vol

7 deals

Buyer

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.74%

Cash-on-Cash

-2.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93