Ari Harkov From Brown Harris Stevens Acquires Multifamily Property In Crown Heights, Brooklyn For $3.4M
SOLD
$3,425,000
New York
See Similar DealsMultiFamily4,955 SF
Sold 09/06/2023
SOLD
Ari Harkov From Brown Harris Stevens Acquires Multifamily Property In Crown Heights, Brooklyn For $3.4M
1481 Sterling Place
See Similar DealsMultiFamily4,955 SF
Sold 09/06/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$691
Total Square Footage:4,955 SF
Transaction Type:Sale
A multifamily property located at 1481 Sterling Place in Crown Heights, Brooklyn has been sold for a total price of $3,425,000. This property consists of 8 units, with each unit being sold at an average price of $428,125. The total square footage of the property is 4,995, resulting in an average price per square foot of $686.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,425,000
- Address: 1481 Sterling Place
- Market: Crown Heights, Brooklyn
- Units: 8
- Price per Unit: $428,125
- Square Footage: 4,995
- Price per Square Foot: $686
The buyer's representative in this transaction was Ari Harkov from Brown Harris Stevens, while the seller's representative was Sean McGinley from Compass.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$182,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,168.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,236.25
Annual Debt Service$194,834.97
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