Nektalov Family Acquires 36-Unit Multifamily Property In Midwood, Brooklyn For $4.2M
SOLD
$4,200,000
New York
See Similar DealsMultiFamily36,000 SF
Sold 04/14/2022
SOLD
Nektalov Family Acquires 36-Unit Multifamily Property In Midwood, Brooklyn For $4.2M
1302 Avenue K, Brooklyn, New York 11230, United States
See Similar DealsMultiFamily36,000 SF
Sold 04/14/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$116
Total Square Footage:36,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$223,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,921.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,910.14
Annual Debt Service$238,921.71
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