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Parag Sawhney Acquires Multifamily In Greenpoint, Brooklyn For $3.175M

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SOLD
$3,175,000

New York

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MultiFamily4,300 SF
Sold 12/07/2023
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Property Image
SOLD

Parag Sawhney Acquires Multifamily In Greenpoint, Brooklyn For $3.175M

138 Noble Street

See Similar Deals
MultiFamily4,300 SF
Sold 12/07/2023
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$738
Total Square Footage:4,300 SF
Transaction Type:Sale

Located at 138 Noble Street in Greenpoint, Brooklyn, this multifamily property was recently sold in a closed transaction. The property consists of 4 units and spans approximately 4,300 square feet. The sale price for this asset was $3,175,000, resulting in a per unit price of $793,750. The price per square foot was calculated at $738.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,175,000
  • Units: 4
  • Price per Unit: $793,750
  • Square Footage: 4,300
  • Price per Square Foot: $738

The buyer in this transaction was Parag Sawhney, while the seller was Andrew Baran. The deal was facilitated by the brokers John Barney and Gregory Melanson, representing Weber Frank Real Estate.

Players

Gregory (Greg) Melanson
19 deals$91.1M volume
BROKER

John Barney
Weber Frank Real Estate
21 deals$109.5M volume(212) 256-1795
BROKER

Parag Sawhney
Penn South Capital
23 deals$175.5M volume(929) 483-4463
BROKER

Parag Sawhney
Penn South Capital
23 deals$175.5M volume
BUYER

Details

SOLD
IMAGE: John Barney & Gregory Melanson DATE: 12/07/2023 ADDRESS: 138 Noble Street MARKET: Greenpoint, Brooklyn ASSET TYPE: Multifamily BUYER: Parag Sawhney SELLER: Andrew Baran BROKERS: John Barney & Gregory Melanson - Weber Frank Real Estate SALE PRICE: $3,175,000 UNITS: 4 ~ PPU: $793,750 SF: 4,300 ~ PPSF: $738

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$169,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,280.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,051.12
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