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INK Property Group Acquires Brooklyn Multifamily Property For $2,550,000

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FINANCED
$2,100,000

New York

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MultiFamily86,960 SF
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INK Property Group Acquires Brooklyn Multifamily Property For $2,550,000

425 Sterling Pl, Brooklyn, NY 11238, USA

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MultiFamily86,960 SF
Financed
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$24
Total Square Footage:86960 SF
Transaction Type:Loan

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

4 deals$2.8M volume
BROKER

Details

FINANCED
IMAGE: Michael Hakimian (@MichaelHakimian), Sammy Hakimian (@SammyHak), Daniel Nadri (@DanielNadri), and Rob Shamash (@RobShamash) DATE: 06/25/2018 ADDRESS: 425 Sterling Place CITY: NewYork NEIGHBORHOOD: Brooklyn ASSET TYPE: Multifamily LOAN AMOUNT: $2,100,000 PURCHASE Price: $2,550,000 UNITS: 8 PPU: $318K SF: 8,696 PPSF: $293 BUYER: INK Property Group – Eden Ashourzadeh (@EdenAshourzadeh) & Alexander Kahen (@AlexKahen) LENDER: […]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$2,100,000.00

Monthly NOI$14,000.00
Monthly Debt Service$13,273.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00