Rong Li Buys Multifamily Property In Crown Heights For $1.51M
1 Saint Charles Place
$1,510,000
$228/SF
Building Size
6,612 SF
Asset Type
MultiFamily
Closing
Mar 14, 2024
AI
The multifamily property located at 1 Saint Charles Place in Crown Heights, Brooklyn, was successfully sold for $1,510,000. The property comprises 6 units spanning 6,612 square feet, resulting in a price per unit of $251,667 and a price per square foot of $228.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,510,000
- Units: 6
- Price per Unit: $251,667
- Square Footage: 6,612
- Price per Square Foot: $228
- Address: 1 Saint Charles Place
- Market: Crown Heights, Brooklyn
- Buyer: Rong Li
- Seller: Constance Nugent Miller
- Broker: Matthew Peters - Marcus & Millichap
Matthew Peters of Marcus & Millichap represented the transaction as the broker. Rong Li acquired the property from Constance Nugent Miller, completing the sale of this multifamily asset.
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.51%
Cash-on-Cash
-3.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93