Ari Harkov From Brown Harris Stevens Acquires Multifamily Property In Crown Heights, Brooklyn For $3.4M
1481 Sterling Place
$3,425,000
$691/SF
Building Size
4,955 SF
Asset Type
MultiFamily
Closing
Sep 6, 2023
AI
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.
Players
Brooklyn 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
4.63%
Cash-on-Cash
-1.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93