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1274 Bergen Street, Brookly...

Michael Bhagwandin Acquires Multifamily Property In Crown Heights For $2.9M
SOLDMultiFamily

Michael Bhagwandin Acquires Multifamily Property In Crown Heights For $2.9M

1274 Bergen Street, Brooklyn, New York 11213, United States

$2,900,000

$863/SF

Building Size

3,360 SF

Asset Type

MultiFamily

Closing

Jan 26, 2022

AI

A multifamily property located at 1274 Bergen St. in Crown Heights was recently sold for $2,900,000. The property consists of 2 units with a total square footage of 3,360. The price per unit was $1,450,000, and the price per square foot was $863.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,900,000
  • Units: 2
  • Price Per Unit: $1,450,000
  • Square Footage: 3,360
  • Price Per Square Foot: $863

The buyer's representative in this transaction was Michael Bhagwandin. The seller was represented by Tomer Shmuel and Dani Ohayon of Massada Home Sales Inc.

Players

Tomer Shmuel

Oxford Property Group

Broker

$24.5M

vol

7 deals

Broker
Massada Home Sales
Massada Home SalesBrokerage

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

5.47%

Cash-on-Cash

-1.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93