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1393 Herkimer Street

Charif Smith Purchases Multifamily Property From Joseph Aghelian On Herkimer Street For $1.62M
SOLDMultiFamily

Charif Smith Purchases Multifamily Property From Joseph Aghelian On Herkimer Street For $1.62M

1393 Herkimer Street

$1,622,000

$983/SF

Building Size

1,650 SF

Asset Type

MultiFamily

Closing

Oct 11, 2024

AI

The property asset is a multifamily building located at 1393 Herkimer Street in Brooklyn. The sale price for this asset was $1,622,000, which translates to a price per unit of $811,000. The building comprises 2 units and has a total square footage of 1,650, resulting in a price per square foot of $983.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,622,000
  • Buyer: Charif Smith
  • Seller: Joseph Aghelian
  • Broker: Sully Klein - Real Street
  • Units: 2
  • Square Footage: 1,650
  • Price Per Unit: $811,000
  • Price Per Square Foot: $983

The transaction involved Charif Smith as the buyer and Joseph Aghelian as the seller. Sully Klein from Real Street served as the broker representing the transaction, facilitating the deal between the two parties involved.

Players

Sully Klein

Broker

$28.7M

vol

14 deals

Broker

Brooklyn 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

9.78%

Cash-on-Cash

-2.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93