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Brokerage
Posted: August 8, 2008
Efrati and Meishar of Itzhaki broker 6,672 s/f mixed-use bldg. sale: $1.75m
Itzhaki Properties has completed the sale of 6834 Forest Ave. The subject property is a 6,672 s/f corner mixed use building with four stores and five apartments located on the southwest corner of Forest Ave. Commercial tenants have 2-5 years remaining on their leases and provide a steady stream of cash flow for the investor.
The 24-ft. wide building sold for $1.75 million which occurred at a capitalization rate of 6.7% and a gross rent multiple of 11.56.
Located in the Ridgewood neighborhood, this property is located two blocks away from the M train.
The buyer of this transaction Kei Kei Enterprise LLC was represented by Ami Efrati, sales associate and the seller Beth Page Realty LLC by Ohad Meishar.
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