Morwin Schmookler Acquires Multifamily Property In Greenwood For $1.9M
161 27th Avenue & 171 27th Street
$1,900,000
$336/SF
Building Size
5,640 SF
Asset Type
MultiFamily
Closing
May 23, 2024
AI
The multifamily property located at 161 & 171 27th Street in Greenwood, Brooklyn, was sold for $1,900,000. This property consists of 3 units with a total square footage of 2,820, leading to a price per unit of $633,333 and a price per square foot of $674.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,900,000
- Units: 3
- Price Per Unit: $633,333
- Square Footage: 2,820
- Price Per Square Foot: $674
- Market: Greenwood, Brooklyn
- Buyer: Morwin Schmookler
- Seller: Frustaci Family
- Brokers: Bobby Lawrence, DJ Johnston, Henry Hill, Jermaine Pugh & Bryan Kirk - Matthews Real Estate Investment Services
The transaction was facilitated by the brokers from Matthews Real Estate Investment Services, including Bobby Lawrence, DJ Johnston, Henry Hill, Jermaine Pugh, and Bryan Kirk. For more information or to discuss similar properties and current market conditions, interested parties can contact Bobby Lawrence at (718) 544-0337 or via email at [email protected].
Players
Brooklyn 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
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93