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121 Norman Avenue

Andrew Bulger Acquires Mixed-Use Property On Norman Avenue For $2.55M
SOLDMultiFamily

Andrew Bulger Acquires Mixed-Use Property On Norman Avenue For $2.55M

121 Norman Avenue

$2,555,000

$612/SF

Building Size

4,175 SF

Asset Type

MultiFamily

Closing

May 15, 2023

AI

A mixed-use property located at 121 Norman Avenue in Greenpoint, Brooklyn was recently sold for a total amount of $2,555,000. This property spans a total area of 4,175 square feet and was sold at a price per square foot of $612.

Summary of transaction details:

  • Property Type: Mixed-Use
  • Transaction Amount: $2,555,000
  • Address: 121 Norman Avenue
  • Market: Greenpoint, Brooklyn
  • Buyer: Andrew Bulger
  • Seller: Andrew Sabol
  • Brokers: Derek Bestreich, Luke Sproviero, Donal Flaherty, Corey Haynes, Thomas Ventura, Sal Monteverde - Investment Property Realty Group (IPRG)
  • Square Footage: 4,175
  • Price per Square Foot: $612

The deal was facilitated by the team of brokers from Investment Property Realty Group (IPRG), including Derek Bestreich, Luke Sproviero, Donal Flaherty, Corey Haynes, Thomas Ventura, and Sal Monteverde. Their expertise and negotiation skills played a crucial role in the successful completion of the transaction.

Players

Corey Haynes

Investment Property Realty Group (IPRG)

Broker

$228M

vol

62 deals

Broker
Donal Flaherty
Verified Badge

Donal Flaherty

Investment Property Realty Group (IPRG)

Broker

$395.2M

vol

103 deals

Broker

Andrew Bulger

Buyer

$4.6M

vol

2 deals

Buyer

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.21%

Cash-on-Cash

-1.77%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93