David Gerstel Acquires Multi Family Property In Gowanus Brooklyn For $2.55M
404 4th Ave, Gowanus, Brooklyn, NY, USA
$2,550,000
$42/SF
Building Size
60,480 SF
Asset Type
MultiFamily
Closing
Apr 10, 2018
AI
The multi-family property located at 404 4th Avenue in Gowanus, Brooklyn has been sold for a price of $2,550,000. The property spans a total of 6,048 square feet, with a price per square foot of $421. It consists of 8 units, with a price per unit of $318,000.
Summary of transaction details
- Property Type: Multi Family
- Transaction Amount: $2,550,000
- Square Footage: 6,048 sq
- Price per Square Foot: $421
- Number of Units: 8
- Price per Unit: $318,000
- Seller: Louis Colon
- Buyer: David Gerstel
Sam Eliakamal of Eliak Equities Inc. acted as the broker in this transaction, representing the parties involved.
Players
New York 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
6.22%
Cash-on-Cash
-1.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93