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1261 Prospect Avenue

Mike Brion Acquires Multifamily Property On Prospect Avenue, Brooklyn For $2.05M
SOLDMultiFamily

Mike Brion Acquires Multifamily Property On Prospect Avenue, Brooklyn For $2.05M

1261 Prospect Avenue

$2,050,000

Building Size

Asset Type

MultiFamily

Closing

Aug 31, 2023

AI

A multifamily property located at 1261A & 1261 Prospect Avenue in Windsor Terrace, Brooklyn has been sold. The property, listed by brokers Jakub Nowak and Jesse Kay of Marcus & Millichap, was purchased by Mike Brion from John Lindstrom. The sale price for this transaction was $2,050,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,050,000
  • Address: 1261A & 1261 Prospect Avenue, Windsor Terrace, Brooklyn
  • Brokers: Jakub Nowak & Jesse Kay - Marcus & Millichap
  • Buyer: Mike Brion
  • Seller: John Lindstrom

Jakub Nowak and Jesse Kay of Marcus & Millichap facilitated the sale of this multifamily property in Windsor Terrace. For any inquiries about selling a commercial property, interested parties can contact Jakub Nowak at 718-475-4353 or Jesse Kay at 718-475-4321.

Players

Jesse Kay

Marcus & Millichap

Broker

$114.1M

vol

28 deals

Broker

Mike Brion

Buyer

$5.5M

vol

2 deals

Buyer

John Lindstrom

Seller

$3M

vol

2 deals

Seller

Brooklyn 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

7.74%

Cash-on-Cash

-2.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93