Townhouse Rental Ii L.l.c Acquires Multi-Family Property In Bushwick, Brooklyn For $3.74M
SOLD
$3,740,000
New York
See Similar DealsMultiFamily4,125 SF
Sold 11/23/2021
SOLD
Townhouse Rental Ii L.l.c Acquires Multi-Family Property In Bushwick, Brooklyn For $3.74M
14 Locust Street, Brooklyn, New York 11206, United States
See Similar DealsMultiFamily4,125 SF
Sold 11/23/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$906
Total Square Footage:4,125 SF
Transaction Type:Sale
A multi-family property located at 14 Locust Street in Bushwick, Brooklyn has been sold. The property is zoned as M1-1 and has a lot size of 2,500 square feet with dimensions of 25 ft x 100 ft. The property last sold on April 18, 2016, for $1,750,000. The sale date of this transaction is November 23, 2021.
Summary of Transaction Details
- Property Type: Multi Family
- Sale Price: $3,740,000
- Building Square Footage: 4,125
- Price Per Square Foot: $907
- Land Square Footage: 2,500
- Price Per Land Square Foot: $1,496
- Far: 1.65
- Tax Class: 2A
The buyer of the property is Townhouse Rental II L.L.C, while the seller is Phillip Miller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$199,466.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,287.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,729.51
Annual Debt Service$212,754.10
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