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425 Sterling Pl, Brooklyn, ...

Updated Dec 21, 2023

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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

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

Robert Shamash

Broker

$2.8M

vol

4 deals

Broker

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $24 per square foot on a published $2.1M for 86,960 square feet (2018).

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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

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