Madison Realty Capital Sells Condo On Ocean Parkway In Kensington For $8.25M
SOLD
$8,250,000
New York
See Similar Deals18,252 SF
Sold 08/17/2022
SOLD
Madison Realty Capital Sells Condo On Ocean Parkway In Kensington For $8.25M
423 Ocean Parkway, Brooklyn, New York 11218, United States
See Similar Deals18,252 SF
Sold 08/17/2022
Summary
NEW YORK
Price Per Square Foot:$452
Total Square Footage:18,252 SF
Transaction Type:Sale
Located at 423 Ocean Parkway in Kensington, this condominium property was recently sold in a transaction facilitated by Madison Realty Capital and David Speiser. The sale took place on August 17, 2022.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $8,250,000
- Units: 2
- Price per Unit: $4,125,000
- Square Footage: 18,252
- Price per Square Foot: $452
Madison Realty Capital, represented by David Speiser, was the seller of this property. The asset, comprising two units, was sold for a total price of $8,250,000. Each unit had a price of $4,125,000. The property spans an area of 18,252 square feet, resulting in a price per square foot of $452.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$439,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,310.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,109.21
Annual Debt Service$469,310.51
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