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Erik J Kenward Acquires Multifamily Property In Greenpoint, Brooklyn For $3.825M

Property Image
SOLD
$3,825,000

New York

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MultiFamily1,976 SF
Sold 05/26/2022
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Property Image
SOLD

Erik J Kenward Acquires Multifamily Property In Greenpoint, Brooklyn For $3.825M

112 Oak Street, Brooklyn, New York 11222, United States

See Similar Deals
MultiFamily1,976 SF
Sold 05/26/2022
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,935
Total Square Footage:1,976 SF
Transaction Type:Sale

The multifamily property located at 112 Oak Street in Greenpoint, Brooklyn has been sold for a price of $3,825,000. The property has a building square footage (BSF) of 4,650 and a price per BSF (PPBSF) of $822. The total square footage (SF) of the property is 1,976, with a price per square foot (PPSF) of $1,936. The property has a floor area ratio (FAR) of 0.85 and falls under tax class 1. The lot size is 2,325 and the previous sale price of the property was $3,150,000 on May 4, 2020. An alteration permit was obtained on August 19, 2021, and the lot dimensions are 25 ft x 89 ft.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,825,000
  • Market: Greenpoint, Brooklyn
  • Zoning: R6B

Erik J Kenward has purchased the property from Sandor Krauss. The buyer's representative in the deal was not specified.

Players

14 deals$154.3M volume
SELLER

Details

SOLD
IMAGE: 05/26/2022 ADDRESS: 112 Oak Street MARKET: Greenpoint, Brooklyn ASSET TYPE: Multifamily ~ ZONING: R6B BUYER: Erik J Kenward SELLER: Sandor Krauss PRICE: $3,825,000 BSF: 4,650 ~ PPBSF: $822 SF: 1,976 ~ PPSF: $1936 FAR: 0.85 TAX CLASS: 1 LOT SIZE: 2,325 LAST SALE PRICE: $3,150,000 (05/04/2020) PERMITS: Alteration (08/19/2021) LOT DIMENSION: 25 ft x 89 ft

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,589.42
Cash-on-Cash Return-1.27%
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