Updated Oct 29, 2024
Mosheref Hussain Acquires 21-Unit Rent-Stabilized Multifamily Building In Kensington For $3.35M
110 Avenue C, Brooklyn, NY 11218, USA
$3,350,000
$209/SF
Building Size
16,000 SF
Asset Type
MultiFamily
Closing
Oct 6, 2019
About this deal
AI
A multifamily property located at 110 Avenue C in Kensington, Brooklyn, was recently sold in a closed transaction. This property consists of 21 units and spans approximately 16,000 square feet. The seller, Steven Gross of Manor Management, agreed to sell the property to the buyer, Mosheref Hussain, for a price of $3,350,000. The asking price for the property was $4,000,000. The transaction reflects a price per square foot of $209 and a price per unit of $159,523.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,350,000
- Address: 110 Avenue C
- Market: Kensington, Brooklyn
In this deal, Lev Mavashev from ALPHA REALTY represented the buyer. The transaction was conducted on behalf of Mosheref Hussain. It is notable that the property is 100% rent-stabilized, ensuring stability for the tenants. Additional financial details include a gross income of $238,795.
On the Map
$3,350,000
$209/SF
MultiFamily
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Players
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
4.74%
Cash-on-Cash
-1.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93