Brian Mahoney Acquires Apartment In Brooklyn Heights For $7.65M
130 Joralemon Street, Brooklyn, New York 11201, United States
$7,650,000
$1,336/SF
Building Size
5,722 SF
Asset Type
MultiFamily
Closing
Dec 29, 2021
AI
The apartment located at 130 Joralemon Street in Brooklyn Heights, Brooklyn was recently sold on December 30, 2021. The property is zoned as R6 with LH-1 designation and has an area of 5,722 square feet. The transaction involved a buyer named Brian Mahoney and a seller named Neil Kupferman. The sale price for the property was $7,650,000, with a price per square foot of $1,337. The building has a total floor area of 5,453 square feet, resulting in a price per buildable square foot of $1,402. The lot size of the property is 2,244 square feet, with dimensions of 15 feet by 99.75 feet. The previous sale of the property took place on January 13, 2016, at a price of $4,750,000. An alteration certificate of occupancy was issued on February 17, 2022.
Summary of transaction details
- Property Type: Apartment
- Transaction Amount: $7,650,000
- Market: Brooklyn Heights, Brooklyn
- Zoning: R6, LH-1
Brian Mahoney acted as the buyer in the transaction, while Neil Kupferman served as the seller. The property has a floor area ratio of 2.55 and is classified under Tax Class 2B. It is worth noting that the property saw an increase in value since its last sale in 2016, when it was purchased for $4,750,000. The transaction included an alteration certificate of occupancy, indicating potential changes or improvements made to the property. The lot size is measured at 2,244 square feet, with dimensions of 15 feet by 99.75 feet.
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
2.07%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93