Updated Dec 21, 2023
Nektalov Family Acquires 36-Unit Multifamily Property In Midwood, Brooklyn For $4.2M
1302 Avenue K, Brooklyn, New York 11230, United States
$4,200,000
$116/SF
Building Size
36,000 SF
Asset Type
MultiFamily
Closing
Apr 13, 2022
About this deal
AI
The multifamily property located at 1302 Avenue K, in the Midwood market, has been sold for a price of $4,200,000. The transaction took place on April 14, 2022. The property comprises 36 units and has a total square footage of 36,000. The sale price per unit was $116,666, while the price per square foot was $116. The buyer of the property is the Nektalov Family, while the seller is the Landsberg Family.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,200,000
- Address: 1302 Avenue K
- Market: Midwood
- Units: 36
- Price per Unit: $116,666
- Total Square Footage: 36,000
- Price per Square Foot: $116
The deal was facilitated by brokers Matt Fotis and Zachary Cohen, representing the buyer, the Nektalov Family, and the seller, the Landsberg Family. The brokers are associated with Marcus & Millichap.
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
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93