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605 Lorimer Street

Brooklyn Condo At 605 Lorimer Street Sold For $8.345M With Natanel Malkoukian & Leah Azizian As Brokers
SOLDCondo

Brooklyn Condo At 605 Lorimer Street Sold For $8.345M With Natanel Malkoukian & Leah Azizian As Brokers

605 Lorimer Street

$8,345,000

$1,586/SF

Building Size

5,260 SF

Asset Type

Condo

Closing

Jul 31, 2024

AI

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.

Players

Natanel Malkoukian

Reavis Development Marketing

Broker

$297.8M

vol

14 deals

Broker

Brooklyn Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.90%

Cash-on-Cash

-0.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93