Salvatore Galofaro Acquires Multifamily Property In Brooklyn For $3.77M
SOLD
$3,775,000
New York
See Similar DealsMultiFamily8,284 SF
Sold 04/16/2024
SOLD
Salvatore Galofaro Acquires Multifamily Property In Brooklyn For $3.77M
111 4th Place
See Similar DealsMultiFamily8,284 SF
Sold 04/16/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$455
Total Square Footage:8,284 SF
Transaction Type:Sale
The multifamily property located at 111 4th Place in Brooklyn was sold for $3,775,000. The property comprises 11 units with a price per unit of $343,182. It spans across 8,284 square feet, resulting in a price per square foot of $456.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,775,000
- Address: 111 4th Place
- Market: Brooklyn
- Units: 11
- Price per Unit: $343,182
- Square Footage: 8,284
- Price per Square Foot: $456
- Buyer: Salvatore Galofaro
- Seller: Philip Castagliola
- Broker: Steven Evans & Khashy Eyn - Platinum Properties
The transaction was facilitated by Steven Evans and Khashy Eyn of Platinum Properties. Salvatore Galofaro purchased the property from Philip Castagliola in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$201,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,411.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,895.43
Annual Debt Service$214,745.11
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