Corcoran Acquires Multifamily Property In Crown Heights For $1.25M
SOLD
$1,250,000
New York
See Similar DealsMultiFamily2,328 SF
Sold 12/01/2021
SOLD
Corcoran Acquires Multifamily Property In Crown Heights For $1.25M
1436 Sterling Place, Brooklyn, New York 11213, United States
See Similar DealsMultiFamily2,328 SF
Sold 12/01/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$536
Total Square Footage:2,328 SF
Transaction Type:Sale
A two-unit multifamily property located at 1436 Sterling Place in Crown Heights has been sold for $1,250,000. The property spans 2,328 square feet, resulting in a price per square foot of $536. The transaction was facilitated by Shloma Hecht from Corcoran, representing the buyer, and Matthew Pucker from Compass, representing the seller.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,250,000
- Units: 2
- Price per Unit: $625,000
- Square Footage: 2,328
- Price per Square Foot: $536
Shloma Hecht from Corcoran and Matthew Pucker from Compass played key roles as the buyer's and seller's representatives, respectively, in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$66,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,440.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,925.64
Annual Debt Service$71,107.65
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