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122 33rd St, Newport Beach,...

Chris Rostek Acquires Sunset Park Multifamily For $1.75M Via @TerraCRG
SOLDMultiFamily

Chris Rostek Acquires Sunset Park Multifamily For $1.75M Via @TerraCRG

122 33rd St, Newport Beach, CA 92663, USA

Building Size

63,630 SF

Asset Type

MultiFamily

Closing

Jun 11, 2018

AI

A multifamily property located at 122 33rd Street in Sunset Park, Brooklyn has been sold in a closed transaction. The property spans across 6,363 square feet and was sold for a price of $1,750,000. The price per square foot for this transaction was $275, with a capitalization rate of 5%. The seller of the property was Deepak Raj, while the buyer was Chris Rostek.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,750,000
  • Address: 122 33rd Street, Sunset Park, Brooklyn
  • Square Footage: 6,363
  • Price per Square Foot: $275
  • Capitalization Rate: 5%

The transaction was facilitated by the brokerage firm @TerraCRG, with Adam Hess, Peter Matheos, and David Algarin representing the parties involved in the deal.

Players

David Algarin

Oak & Avery Group

Broker

$100.8M

vol

27 deals

Broker
Terra CRG
Terra CRGBrokerage

Newport Beach MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93