7-Unit Residential Condo in Brooklyn Sold for $5.5M
238 Richardson St, Brooklyn, NY 11222, USA
$5,557,000
$1,088/SF
Building Size
5,106 SF
Asset Type
—
Closing
Apr 2, 2020
About this deal
AI
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.
On the Map
$5,557,000
$1,088/SF
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.85%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93