Balram Kakkar Acquires Briarwood Multifamily For $2.45M With Brokers Thomas A. Donovan & Robert Rappa
141-27 84th Drive, Briarwood, NY, USA
$2,450,000
$306/SF
Building Size
8,001 SF
Asset Type
MultiFamily
Closing
Oct 12, 2021
AI
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
Jamaica 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
6.47%
Cash-on-Cash
-1.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93