Updated Dec 21, 2023
INK Property Group Acquires Brooklyn Multifamily Property For $2,550,000
425 Sterling Pl, Brooklyn, NY 11238, USA
$2,100,000
$24/SF
Building Size
86,960 SF
Asset Type
MultiFamily
Closing
Jun 24, 2018
About this deal
AI
The multifamily property located at 425 Sterling Place in Brooklyn, New York, was recently sold in a closed transaction. The property consists of 8 units, with a purchase price of $2,550,000. The loan amount for the transaction was $2,100,000. The property spans 8,696 square feet, with an average price per unit of $318,000 and a price per square foot of $293. The transaction was facilitated by the buyer, INK Property Group represented by Eden Ashourzadeh and Alexander Kahen.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,550,000
- Loan Amount: $2,100,000
- Address: 425 Sterling Place
- City: New York
- Neighborhood: Brooklyn
- Units: 8
- Price per Unit: $318,000
- Square Footage: 8,696
- Price per Square Foot: $293
The buyer, INK Property Group, represented by Eden Ashourzadeh and Alexander Kahen, successfully acquired the property in this transaction. They played a key role in the deal, ensuring a smooth and efficient process.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93