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128 Cortelyou Rd, Brooklyn,...

FCA Acquires Brooklyn Property At 128 Cortelyou Rd For $2.95M With Seller's Reps IPRG
SOLDMultiFamily

FCA Acquires Brooklyn Property At 128 Cortelyou Rd For $2.95M With Seller's Reps IPRG

128 Cortelyou Rd, Brooklyn, NY, 11218

$2,950,000

$465/SF

Building Size

6,335 SF

Asset Type

MultiFamily

Closing

Nov 19, 2023

AI

The property involved in this transaction is located at 128 Cortelyou Rd, Brooklyn, NY, 11218. The transaction was closed at a price of $2,950,000.00, encompassing a total area of 6,335 square feet within the Brooklyn market.

Summary of transaction details:

  • Property Type: Sale
  • Transaction Amount: $2,950,000.00
  • Address: 128 Cortelyou Rd, Brooklyn, NY, 11218
  • Square Footage: 6,335
  • Market: Brooklyn
  • Buyer: FCA
  • Seller's Representatives: Luke Sproviero, Brian Underkofler - Investment Property Realty Group (IPRG), Erik Rodriguez

The deal involved key individuals representing the seller, including Luke Sproviero and Brian Underkofler from the Investment Property Realty Group (IPRG), along with Erik Rodriguez. The buyer in this transaction is FCA, contributing to a robust portfolio within the Brooklyn market.

Players

Brian Underkofler

Investment Property Realty Group (IPRG)

Broker

$27.9M

vol

11 deals

Broker
FCA
FCABuyer

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

5.38%

Cash-on-Cash

-1.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93