HIP Acquisitions Acquires MultiFamily Property On Dekalb Ave For $1.5M
1380 Dekalb Ave, Brooklyn, NY 11221, USA
Building Size
6,500 SF
Asset Type
MultiFamily
Closing
Nov 28, 2020
AI
The multi-family property located at 1380 Dekalb Ave in New York has been sold in a closed transaction for a price of $1,500,000. Spanning 6,500 square feet, the property is valued at approximately $230 per square foot. The transaction involved a total of 8 units, with an average price per unit of $187,500.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $1,500,000
- Square Footage: 6,500 SF
- Price per Square Foot: $230
- Total Units: 8
- Price per Unit: $187,500
The seller of the property is Ulysses Reid, while the buyer is Todd Bell of HIP Acquisitions. Representing the deal as the broker is Rami Polinsky from HPNY.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93