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425 Sterling Pl, Brooklyn, ...

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

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

Robert Shamash

Broker

$2.8M

vol

4 deals

Broker

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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