David Gerstel Acquires Multi Family Property In Gowanus Brooklyn For $2.55M
SOLD
$2,550,000
New York
See Similar DealsMultiFamily60,480 SF
Sold 04/11/2018
SOLD
David Gerstel Acquires Multi Family Property In Gowanus Brooklyn For $2.55M
404 4th Ave, Gowanus, Brooklyn, NY, USA
See Similar DealsMultiFamily60,480 SF
Sold 04/11/2018
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$42
Total Square Footage:60,480 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$136,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,059.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,088.30
Annual Debt Service$145,059.61
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