109Co Acquires Multifamily Property At 484 Humboldt Street For $32.5 Million
SOLD
$32,500,000
+ 2
New York
See Similar DealsMultiFamily67,500 SF
Sold 06/25/2025
SOLD
109Co Acquires Multifamily Property At 484 Humboldt Street For $32.5 Million
484 Humboldt Street, 65 Maspeth Avenue & 68 Maspeth Avenue
See Similar DealsMultiFamily67,500 SF
Sold 06/25/2025
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$481
Total Square Footage:67,500 SF
Transaction Type:Sale
The transaction involved a multi-family asset located at 484 Humboldt Street, 64-68 Maspeth Avenue & 65 Maspeth Avenue in the Brooklyn market. The property was sold for $32,500,000, covering a total square footage of 68,930, resulting in a price per square foot of $471.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $32,500,000
- Address: 484 Humboldt Street, 64-68 Maspeth Avenue & 65 Maspeth Avenue
- Market: Brooklyn
- Square Footage: 68,930
- Price per Square Foot: $471
- Buyer: 109Co - Bastien Broda
- Brokers: Frederick Richter, Patrick Madigan, Joseph Moran & Miles Davis-Bosch - Avison Young
The deal was represented by brokers Frederick Richter, Patrick Madigan, Joseph Moran, and Miles Davis-Bosch from Avison Young, indicating a coordinated effort among the brokerage team to facilitate this significant transaction in the multi-family sector.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,733,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$115,465.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$154,066.58
Annual Debt Service$1,848,798.97
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