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88 Guernsey Street, Greenpo...

Bestreich Realty Group Acquires Multifamily Property In Greenpoint, Brooklyn For $7.7M
SOLDMultiFamily

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:

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

Corey Haynes

Investment Property Realty Group (IPRG)

Broker

$228M

vol

62 deals

Broker
Donal Flaherty
Verified Badge

Donal Flaherty

Investment Property Realty Group (IPRG)

Broker

$367.7M

vol

101 deals

Broker

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