Updated Dec 21, 2023
Donald G. Fraser Acquires Multifamily Property In Brooklyn Heights For $9.995M
16 Remsen Street, Brooklyn, New York 11201, United States
$9,995,000
$2,115/SF
Building Size
4,724 SF
Asset Type
MultiFamily
Closing
Apr 13, 2022
About this deal
AI
Located at 16 Remsen Street in Brooklyn Heights, Brooklyn, this multifamily property was recently sold in a closed transaction. The property is zoned as R6 LH-1 and offers a total buildable square footage (BSF) of 5,390. The price for this property was $9,995,000, resulting in a per square foot (PPSF) price of $2,115. The lot size measures 2,218 square feet, with dimensions of 26.25 ft x 84.5 ft.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $9,995,000
- Market: Brooklyn Heights, Brooklyn
- Zoning: R6, LH-1
- BSF: 5,390
- PPBSF: $1,846
- SF: 4,724
- PPSF: $2,115
- Lot Size: 2,218
The buyer of this property is Donald G. Fraser, while the seller is Joel Leitner. The property has a floor area ratio (FAR) of 2.13 and is classified under tax class 1. It should be noted that permits for alteration were issued on February 28, 2007.
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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93