Updated Dec 19, 2023
Amit Gera, John McSherry & Christopher Groeneveldt Acquire Multifamily Property In Crown Heights For $800K
1201 Saint Marks Avenue, Brooklyn, New York 11213, United States
$800,000
$571/SF
Building Size
1,400 SF
Asset Type
MultiFamily
Closing
Feb 2, 2022
About this deal
AI
The multifamily property located at 1201 Saint Marks Ave. in Crown Heights has been sold in a recent transaction. The property, with a total area of 1,400 square feet, consists of two units. The sale price for this transaction was $800,000, resulting in a price per unit of $400,000. The property is zoned as R6.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $800,000
- Address: 1201 Saint Marks Ave.
- Market: Crown Heights
- Zoning: R6
The buyers in this transaction were Amit Gera, John McSherry, and Christopher Groeneveldt, while the sellers were The Reed Family. The deal was successfully closed on 02/03/2022. The price per square foot for the property was $571.
Players
New York 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
19.83%
Cash-on-Cash
-5.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93