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1283 Nostrand Avenue, Littl...

Jacob Leifer Acquires Multifamily Property In Prospect Lefferts Gardens For $1.6M
SOLDMultiFamily

Jacob Leifer Acquires Multifamily Property In Prospect Lefferts Gardens For $1.6M

1283 Nostrand Avenue, Little Caribbean, Brooklyn, NY, USA

$1,600,000

$355/SF

Building Size

4,500 SF

Asset Type

MultiFamily

Closing

Feb 28, 2019

AI

An investment property located at 1283 Nostrand Avenue in Prospect Lefferts Gardens, Brooklyn has recently been sold. The property is a multifamily building with a total square footage of 4,500. The transaction took place on March 1, 2019, and the sale price for the property was $1,600,000. The price per square foot for this transaction was $355. The buyer of the property is Jacob Leifer, while the seller is Osier Anicet. The deal was facilitated by brokers Derek Bestreich and Brian Underkofler from BRG Commercial Real Estate Advisors.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,600,000
  • Address: 1283 Nostrand Avenue, Prospect Lefferts Gardens
  • Market: Prospect Lefferts Gardens
  • Buyer: Jacob Leifer
  • Seller: Osier Anicet
  • Brokers: Derek Bestreich, Brian Underkofler (BRG Commercial Real Estate Advisors)

The successful sale of the property was made possible through the efforts of Derek Bestreich and Brian Underkofler, who represented both the buyer, Jacob Leifer, and the seller, Osier Anicet. This transaction marks another successful deal for BRG Commercial Real Estate Advisors in the Prospect Lefferts Gardens market.

Players

Brian Underkofler

Investment Property Realty Group (IPRG)

Broker

$27.9M

vol

11 deals

Broker

Jacob Leifer

Buyer

$5.2M

vol

3 deals

Buyer

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.91%

Cash-on-Cash

-2.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93