Updated Dec 21, 2023
Howard Rosenhouse Sells 24-Unit Multifamily Building In Crown Heights For $3.5M
1519 Lincoln Place, Brooklyn, NY 11213
$3,500,000
$169/SF
Building Size
20,640 SF
Asset Type
MultiFamily
Closing
Jun 30, 2020
About this deal
AI
A multifamily property located at 1519 Lincoln Place in Crown Heights, Brooklyn, was recently sold for $3,500,000. The property consists of 24 units, with an average price per unit of $145,833. The total square footage of the property is 20,640, resulting in a price per square foot of $169.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,500,000
- Units: 24
- Average Price Per Unit: $145,833
- Total Square Footage: 20,640
- Price Per Square Foot: $169
The seller of the property was Howard Rosenhouse. The deal was facilitated by brokers Derek Bestreich and Luke Sproviero from Bestreich Realty Group.
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93