Z&G Property Group Acquires Multifamily Asset In Carroll Gardens For $10.8M
SOLD
$10,836,437
New York
See Similar DealsMultiFamily26,275 SF
Sold 07/20/2022
SOLD
Z&G Property Group Acquires Multifamily Asset In Carroll Gardens For $10.8M
108 Luquer Street
See Similar DealsMultiFamily26,275 SF
Sold 07/20/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$412
Total Square Footage:26,275 SF
Transaction Type:Sale
The multifamily property located at 108 Luquer St. in Carroll Gardens has been sold. The property spans an area of 26,275 square feet and was purchased by Z+G Property Group. The deal was facilitated by brokers Shaun Riney, Michael Salvatico, and Robert Ferman from Marcus & Millichap. The sale price for the property was $10,836,437, resulting in a price per square foot of $412.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,836,437
- Address: 108 Luquer St.
- Market: Carroll Gardens
- Buyer: Z+G Property Group
- Brokers: Shaun Riney, Michael Salvatico, and Robert Ferman - Marcus & Millichap
- Square Footage: 26,275
- Price per Square Foot: $412
Shaun Riney, Michael Salvatico, and Robert Ferman from Marcus & Millichap played a crucial role in representing the buyer, Z+G Property Group, in this transaction. Their expertise and negotiation skills contributed to the successful completion of the deal.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$577,943.30
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$38,499.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$51,370.24
Annual Debt Service$616,442.88
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