Updated Dec 4, 2024
Cheskel Strulovitch Sells Multifamily Property In Stuyvesant Heights, Brooklyn For $3.1M
16 Howard Avenue
$3,100,000
$242/SF
Building Size
12,800 SF
Asset Type
MultiFamily
Closing
Sep 20, 2023
About this deal
AI
The property involved in this transaction is a multifamily asset located at 16 Howard Avenue in Stuyvesant Heights, Brooklyn. The property consists of 8 units with a total square footage of 12,800. The sale price for this property was $3,100,000, resulting in a price per unit of $387,500 and a price per square foot of $242.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,100,000
- Units: 8
- Price per Unit: $387,500
- Square Footage: 12,800
- Price per Square Foot: $242
- Address: 16 Howard Avenue, Stuyvesant Heights, Brooklyn
- Market: Stuyvesant Heights, Brooklyn
The seller of this property was Cheskel Strulovitch. The broker representing the seller in this deal was Felix Ades from Northgate Real Estate Group.
On the Map
$3,100,000
$242/SF
MultiFamily
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Ridge 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
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93