Brooklyn Condo At 605 Lorimer Street Sold For $8.345M With Natanel Malkoukian & Leah Azizian As Brokers
SOLD
$8,345,000
New York
See Similar DealsCondo5,260 SF
Sold 07/31/2024
SOLD
Brooklyn Condo At 605 Lorimer Street Sold For $8.345M With Natanel Malkoukian & Leah Azizian As Brokers
605 Lorimer Street
See Similar DealsCondo5,260 SF
Sold 07/31/2024
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$1,586
Total Square Footage:5,260 SF
Transaction Type:Sale
The property involved in the transaction is a condo located at 605 Lorimer Street in Brooklyn. The sale price was $8,345,000, and it encompasses a total square footage of 5,260, resulting in a price per square foot (PPSF) of $1,586.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $8,345,000
- Square Footage: 5,260
- Price per Square Foot: $1,586
- Market: Brooklyn
- Brokers: Natanel Malkoukian & Leah Azizian - Reavis
- Date of Sale: 7/30/2024
All units in the condo development went into contract sold Pre-TCO, with 6 out of 7 in contract before the first listing went live on the market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$445,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,648.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,559.56
Annual Debt Service$474,714.69
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