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
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