Bestreich Realty Group Acquires Multifamily Property In Greenpoint, Brooklyn For $7.7M
88 Guernsey Street, Greenpoint, Brooklyn, NY, USA
$7,745,000
$1,290/SF
Building Size
6,000 SF
Asset Type
MultiFamily
Closing
Sep 13, 2021
AI
Located at 88 Guernsey Street in Greenpoint, Brooklyn, this recently sold multifamily property boasts a total of 8 units. The property spans across 6,000 square feet, with each unit averaging approximately 750 square feet. The sale price for this transaction was $7,745,000, resulting in a per unit price of $968,125. The price per square foot was calculated at $1,290.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,745,000
- Address: 88 Guernsey Street
- Market: Greenpoint, Brooklyn
- Brokers: Derek Bestreich, Luke Sproviero, Donal Flaherty, Justin Zeitchik, Hakeem Lecky, Corey Haynes, and Ari Harkov
- Brokerage: Bestreich Realty Group (BRG) - Bestreich Realty Group (BRG) ; Ari Harkov @HarkovLewisTeam @BrownHarrisStevens
The deal was facilitated by a team of experienced brokers, including Derek Bestreich, Luke Sproviero, Donal Flaherty, Justin Zeitchik, Hakeem Lecky, Corey Haynes, and Ari Harkov. Bestreich Realty Group (BRG) and Ari Harkov from Harkov Lewis Team at Brown Harris Stevens played key roles in representing the involved parties in this 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
2.05%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93