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
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
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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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