Updated Feb 16, 2024
Jeremy Salzberg Acquires Multifamily Property In Brooklyn For $6M
1043 Sterling Pl, Brooklyn, NY 11213, USA & 1043 Sterling Pl, Brooklyn, NY 11213, USA
Building Size
15,808 SF
Asset Type
MultiFamily
Closing
May 2, 2018
About this deal
AI
A multifamily property located at 1043 Sterling Place in Brooklyn, New York has been sold for $6,000,000. The property spans 15,808 square feet and has a price per square foot of $380. It consists of 16 units, with each unit priced at $375,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,000,000
- Square Footage: 15,808 sf
- Price Per Square Foot: $380
- Number of Units: 16
- Price Per Unit: $375,000
The loan for this transaction was handled by Shamir Seidman of Meridian Capital Group's WekeepClosing. Chayim Kirschenbaum was the seller of the property, while Jeremy Salzberg was the buyer. The deal was facilitated by brokers Shaun Riney, Dan Greenblatt, Seth Glasser, and Chayim Kirschenbaum's representative.
Players
New York 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93