Moshe Langer Acquires 6-Unit Property In East Flatbush, BK For $1.425M
1024 New York Avenue, Brooklyn, NY, USA
$1,425,000
$271/SF
Building Size
5,250 SF
Asset Type
—
Closing
Feb 6, 2019
About this deal
AI
A six-unit property located at 1024 New York Ave in East Flatbush, Brooklyn has been sold for $1.425 million. The transaction took place on February 7, 2019 and was facilitated by Marcel Fridman of Barcel Group. The property spans 5,250 square feet, resulting in a price per square foot of $241.
Summary of transaction details
- Property Type: Multi-family
- Transaction Amount: $1.425 million
- Date: February 7, 2019
- Address: 1024 New York Ave
- Market: East Flatbush, Brooklyn
- Square Footage: 5,250
- Price per Square Foot: $241
- Buyer: Moshe Langer
- Seller: Gil Schenav
- Broker: Marcel Fridman - Barcel Group
It is worth noting that 50% of the units in the property are currently vacant.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.13%
Cash-on-Cash
-3.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93