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1441 East 8th Street, Brook...

Updated Dec 21, 2023

Jack Zami Acquires Multifamily Property On 8th St In Midwood, Brooklyn For $3.6M
SOLDMultiFamily

Jack Zami Acquires Multifamily Property On 8th St In Midwood, Brooklyn For $3.6M

1441 East 8th Street, Brooklyn, New York 11230, United States

$3,600,000

$2,608/SF

Building Size

1,380 SF

Asset Type

MultiFamily

Closing

Apr 27, 2022

About this deal

AI

A multifamily property with a garage located at 1441 E 8th St in Midwood, Brooklyn, was recently sold for a price of $3,600,000. The property has a building square footage (BSF) of 3,750, with a price per BSF (PPBSF) of $960. The total square footage (SF) of the property is 1,380, with a price per SF (PPSF) of $2,608. The property is zoned as R5, OP and has a floor area ratio (FAR) of 0.46. The tax class of the property is 1.

Summary of transaction details

  • Property Type: Multifamily w/ Garage
  • Transaction Amount: $3,600,000
  • Address: 1441 E 8th St, Midwood, Brooklyn
  • BSF: 3,750
  • PPBSF: $960
  • SF: 1,380
  • PPSF: $2,608
  • Zoning: R5, OP
  • FAR: 0.46
  • Tax Class: 1

The buyer in this transaction is Jack Zami, and the seller is Rochelle J Ashkenazi.

Additional details about the property include a lot size of 3,000 square feet. The last recorded sale price for the property was $1,750,000 on November 19, 2009. A permit for alteration 1 was issued on December 29, 2004. The lot dimensions are 30 feet by 100 feet.

Players

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $2.6K per square foot on a published $3.6M for 1,380 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.41%

Cash-on-Cash

-1.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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