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1481 Sterling Place

Ari Harkov From Brown Harris Stevens Acquires Multifamily Property In Crown Heights, Brooklyn For $3.4M
SOLDMultiFamily

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

Ari Harkov

Brown Harris Stevens

Broker

$429.1M

vol

86 deals

Broker

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