7-Unit Residential Condo in Brooklyn Sold for $5.5M
SOLD
$5,557,000
New York
See Similar Deals5,106 SF
Sold 04/03/2020
SOLD
7-Unit Residential Condo in Brooklyn Sold for $5.5M
238 Richardson St, Brooklyn, NY 11222, USA
See Similar Deals5,106 SF
Sold 04/03/2020
Summary
NEW YORK
Price Per Square Foot:$1,088
Total Square Footage:5,106 SF
Transaction Type:Sale
The asset involved in this transaction is a residential condominium located in Brooklyn. The property was marketed with an asking price of $5,895,000 and ultimately sold for $5,557,000. It encompasses a total area of 5,106 square feet and consists of 7 units, with a price per square foot of $1,089.
Summary of transaction details:
- Property Type: Resi Condo
- Transaction Amount: $5,557,000
- Asking Price: $5,895,000
- Square Footage: 5,106
- Price Per Square Foot: $1,089
- Units: 7
- Seller: OI Capital Group & @MDevelopmentNYC – Raffi Manor
- Broker: David Avgi
This transaction involved OI Capital Group and @MDevelopmentNYC, with Raffi Manor acting as the sellers. David Avgi was the broker representing the involved parties throughout the deal.
Players
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SELLER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$296,373.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,742.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,343.02
Annual Debt Service$316,116.18
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