Balram Kakkar Acquires Briarwood Multifamily For $2.45M With Brokers Thomas A. Donovan & Robert Rappa
SOLD
$2,450,000
New York
See Similar DealsMultiFamily8,001 SF
Sold 10/12/2021
SOLD
Balram Kakkar Acquires Briarwood Multifamily For $2.45M With Brokers Thomas A. Donovan & Robert Rappa
141-27 84th Drive, Briarwood, NY, USA
See Similar DealsMultiFamily8,001 SF
Sold 10/12/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$306
Total Square Footage:8,001 SF
Transaction Type:Sale
A multifamily property located at 141-27 84th Drive in Briarwood has been sold for $2,450,000. The property spans across 8,001 square feet and has a price per square foot of $306. It consists of 10 units, with an average price per unit of $245,000. The transaction took place on October 12, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,450,000
- Address: 141-27 84th Drive
- Market: Briarwood
- Asset Type: Multifamily
- Tax Class: 2B
The buyer in this transaction was Balram Kakkar, while the seller was Ted Boutzalis. The deal was facilitated by Thomas A. Donovan and Robert Rappa from B6 Real Estate Advisors.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$130,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,704.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,614.25
Annual Debt Service$139,371.00
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