Updated Oct 29, 2024
Light Grove Capital Acquires Multifamily Property In Greenpoint For $2.8M
158 Noble St Brooklyn, NY 11222, USA
$2,775,000
$825/SF
Building Size
3,360 SF
Asset Type
MultiFamily
Closing
Nov 23, 2022
About this deal
AI
The multifamily property located at 158 Noble St in Greenpoint has been sold in a transaction facilitated by Blackshore Realty Group. The sale, which took place on November 23, 2022, involved Light Grove Capital, represented by Mike Pitman, as the buyer and the Braun Family as the seller.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,775,000
- Address: 158 Noble St
- Market: Greenpoint
The property consists of four units spanning a total area of 3,360 square feet. The per unit price amounts to $693,750, while the price per square foot is $826.
Mike Pitman of Light Grove Capital acted as the buyer in the deal. The seller, the Braun Family, successfully completed the transaction. It is worth noting that the sale was facilitated by Joseph Friedman and Ben Wasserman from Blackshore 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
5.72%
Cash-on-Cash
-1.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93