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Patrick Fu Acquires Multifamily In Williamsburg, Brooklyn For $2.57M

Property Image
SOLD
$2,565,000

New York

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MultiFamily2,026 SF
Sold 06/11/2024
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Property Image
SOLD

Patrick Fu Acquires Multifamily In Williamsburg, Brooklyn For $2.57M

141 Bedford Avenue

See Similar Deals
MultiFamily2,026 SF
Sold 06/11/2024
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,266
Total Square Footage:2,026 SF
Transaction Type:Sale

The multifamily property located at 141 Bedford Avenue in Williamsburg, Brooklyn, was sold for $2,565,000. The property consists of 3 units spanning 2,026 square feet, resulting in a price per unit of $855,000 and a price per square foot of $1,266.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,565,000
  • Units: 3
  • Price Per Unit: $855,000
  • Square Footage: 2,026
  • Price Per Square Foot: $1,266
  • Address: 141 Bedford Avenue
  • Market: Williamsburg, Brooklyn

The deal was facilitated by Shaun Riney, Michael Salvatico, and Samuel Leppo of Marcus & Millichap. Patrick Fu acted as the buyer in this transaction.

Players

Michael (Mike) Salvatico
173 deals$787M volume(718) 475-4358
BROKER

Shaun Riney
Marcus & Millichap
355 deals$1.8B volume(718) 475-4369
BROKER

Samuel (Sam) Leppo
Marcus & Millichap
59 deals$286.6M volume(718) 475-4342
BROKER

Details

SOLD
IMAGE: Samuel Leppo, Shaun Riney & Michael Salvatico DATE: 06/11/2024 ADDRESS: 141 Bedford Avenue MARKET: Williamsburg, Brooklyn ASSET TYPE: Multifamily BUYER: Patrick Fu BROKERS: Shaun Riney (@ShaunRiney1), Michael Salvatico (@MikeSalvatico) & Samuel Leppo (@Leppo.CRE) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $2,565,000 UNITS: 3 ~ PPU: $855,000 SF: 2,026 ~ PPSF: $1,266

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$136,800.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,112.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,159.41
Annual Debt Service$145,912.90