Updated Nov 15, 2023
Robert Saffayeh Acquires Multifamily Property In Brooklyn Heights For $7.35M
118 Remsen St Brooklyn, NY 11201, USA
$7,350,000
$873/SF
Building Size
8,411 SF
Asset Type
MultiFamily
Closing
Jun 2, 2023
About this deal
AI
Robert Saffayeh purchased a six-unit residential walkup building located at 118 Remsen Street in Brooklyn Heights, Brooklyn for $7.3 million. The property is a multifamily asset consisting of 6 units with a total square footage of 8,411. The purchase price per unit is $1,225,000, and the price per square foot is $874.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,350,000
- Address: 118 Remsen Street, Brooklyn Heights, Brooklyn
- Buyer: Robert Saffayeh
- Seller: Erich Paul Mauff & Adele Griffin Watson
Robert Saffayeh's acquisition of the 118 Remsen Street property marks a significant investment in the Brooklyn Heights market. The transaction highlights his commitment to expanding his real estate portfolio in a sought-after neighborhood. With this purchase, Saffayeh adds a valuable multifamily asset to his portfolio.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.16%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93