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
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
6.21%
Cash-on-Cash
-1.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93