Updated Feb 25, 2025
Russell Altman Acquires Multifamily Property In Fort Greene, Brooklyn For $3.2M
135 Fort Greene Place, Brooklyn, New York 11217, United States
$3,200,000
$918/SF
Building Size
3,486 SF
Asset Type
MultiFamily
Closing
Jul 14, 2022
About this deal
AI
A multifamily property located at 135 Fort Greene Place in Fort Greene, Brooklyn has been sold. The property, which is zoned as R6B, was purchased for a total price of $3,200,000. The building has a total square footage of 4,200, with a price per square foot of $761. The lot size is 2,100, and the dimensions are 21 ft x 100 ft. The previous sale of the property took place on January 10, 2022, for a price of $2,300,000. The property underwent an alteration permit on September 9, 2016.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $3,200,000
- Market: Fort Greene, Brooklyn
- Buyer: Russell Altman
- Seller: Michael Murphy
- Price per Square Foot: $761
- Square Footage: 4,200
- Lot Size: 2,100
- Last Sale Price: $2,300,000 (01/10/2022)
- Permits: Alteration 3 (09/09/2016)
- Lot Dimension: 21 ft x 100 ft
Russell Altman, represented by his broker, made the purchase of the property from the seller, Michael Murphy. The property is classified under tax class 1 and has a floor area ratio (FAR) of 1.66.
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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93