Unicorn Properties Group Acquires Multifamily Property In New York City For $713K
1174 Putnam Avenue
$713,000
$216/SF
Building Size
3,300 SF
Asset Type
MultiFamily
Closing
Dec 21, 2022
AI
Unicorn Properties Group, represented by Eric Carino & Enrico Ferri, has acquired a multifamily property located at 1174 Putnam Avenue in New York City. The property was sold by Roberta Jackson in a closed transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $713,000
- Units: 3 ~ Price per Unit: $237,667
- Square Footage: 3,300 ~ Price per Square Foot: $216
- Market: New York City
- Buyer: Unicorn Properties Group - Eric Carino & Enrico Ferri
- Seller: Roberta Jackson
The purchase price of $713,000 was achieved due to termite damage, structural issues, and open ECB/HPD violations. Unicorn Properties Group is actively purchasing single and multi-unit properties in North-Brooklyn, North-Western Brooklyn, Central Brooklyn (near Prospect Park), Ridgewood Queens, and Uptown Manhattan. The property consists of 1 to 5 free market residential units. It is a residential development with a minimum of 20,000 buildable square feet.
Contact details for Eric Carino, the representative of Unicorn Properties Group, are as follows:
- Office: 718-725-1500
- Cell: 646-921-3377
- Email: [email protected]
Players
New York City 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
22.25%
Cash-on-Cash
-6.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93