Michael Sherman Of Baseline Real Estate Advisors Represents Buyer In $3.4M Multifamily Sale In Brooklyn
SOLD
$3,400,000
New York
See Similar DealsMultiFamily6,272 SF
Sold 10/30/2024
SOLD
Michael Sherman Of Baseline Real Estate Advisors Represents Buyer In $3.4M Multifamily Sale In Brooklyn
103 3rd Place
See Similar DealsMultiFamily6,272 SF
Sold 10/30/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$542
Total Square Footage:6,272 SF
Transaction Type:Sale
103 3rd Place is a multifamily asset located in the Carrol Gardens neighborhood of Brooklyn. The property features 8 residential units and encompasses a total of 6,272 square feet. The sale was completed at a price of $3,400,000, resulting in a price per unit of $425,000 and a price per square foot of $542.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,400,000
- Number of Units: 8
- Square Footage: 6,272
- Price Per Unit: $425,000
- Price Per Square Foot: $542
- Buyer's Representative: Michael Sherman - Baseline Real Estate Advisors
- Seller's Representatives: Adam J Hess & Edward Setton - Meridian Capital Group
The transaction involved key representatives in the real estate sector, with Michael Sherman acting on behalf of the buyer, while both Adam J Hess and Edward Setton represented the seller in this deal. Their roles were crucial in facilitating this multifamily property sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$181,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,079.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,117.73
Annual Debt Service$193,412.82
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