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James Grasso Of Cohabs Acquires Multifamily Property From Richard Thypin For $4.2M

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SOLD
$4,200,000
James Grasso

New York

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MultiFamily7,296 SF
Sold 11/28/2023
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Property Image
SOLD

James Grasso Of Cohabs Acquires Multifamily Property From Richard Thypin For $4.2M

1162 Pacific Street

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MultiFamily7,296 SF
Sold 11/28/2023
James Grasso
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$575
Total Square Footage:7,296 SF
Transaction Type:Sale

A multifamily property was acquired for $4,200,000. This four-unit property spans 7,740 BSF, equating to a price per BSF of $543. The property, located at 1162 Pacific Street in the Crown Heights neighborhood of Brooklyn, has a total square footage of 7,296, resulting in a price per square foot of $576.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,200,000
  • Address: 1162 Pacific Street
  • Market: Crown Heights, Brooklyn
  • BSF: 7,740
  • PPBSF: $543
  • SF: 7,296
  • PPSF: $576
  • Buyer: James Grasso - Cohabs
  • Seller: Richard Thypin
  • Seller Representative: Ben Thypin

The buyer, James Grasso, represented by Cohabs, acquired the property from Richard Thypin's Pacific Street Owner, LLC. The transaction involves the entity 1162 Pacific LLC acquiring the property.

Players

Ben Carlos Thypin
12 deals$199.2M volume
BROKER

James Grasso
10 deals$38M volume
BUYER

James Grasso
10 deals$38M volume
BUYER

Details

SOLD
IMAGE: James Grasso DATE: 11/28/2023 ADDRESS: 1162 Pacific Street MARKET: Crown Heights, Brooklyn ASSET TYPE: Multifamily BUYER: James Grasso - Cohabs (@Cohabs) SELLER: Richard Thypin SELLER REP: Ben Thypin SALE PRICE: $4,200,000 BSF: 7,740 ~ PPBSF: $543 SF: 7,296 ~ PPSF: $576 NOTE: Cohabs, represented by the entity 1162 Pacific LLC, has acquired a four-unit property at 1162 Pacific Street in Crown Heights, Brooklyn, from Richard Thypin's Pacific Street Owner, LLC, for $4.2 million.

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

$223,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,921.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,910.14
Annual Debt Service$238,921.71