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Morwin Schmookler Acquires Multifamily Property In Greenwood For $1.9M

Property Image
SOLD
$1,900,000
Bobby Lawrence
DJ Johnston
+ 2

New York

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MultiFamily5,640 SF
Sold 05/23/2024
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Property Image
SOLD

Morwin Schmookler Acquires Multifamily Property In Greenwood For $1.9M

161 27th Avenue & 171 27th Street

See Similar Deals
MultiFamily5,640 SF
Sold 05/23/2024
Bobby Lawrence
DJ Johnston
+ 2
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$336
Total Square Footage:5,640 SF
Transaction Type:Sale

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:

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

Bobby Lawrence
25 deals$80.7M volume(646) 933-2648
BROKER

Bryan Kirk
Matthews
24 deals$113.8M volume(313) 402-0917
BROKER

DJ Johnston
Matthews
102 deals$493.3M volume(914) 584-7422
BROKER

Jermaine Pugh
Matthews
24 deals$86.1M volume(201) 850-0762
BROKER

Henry Hill
Newmark
28 deals$468M volume(212) 655-0695
BROKER

Details

SOLD
IMAGE: Henry Hill, DJ Johnston, Bobby Lawrence, Jermiane Pugh & Bryan Kirk DATE: 05/23/2024 ADDRESS: 161 & 171 27th Street MARKET: Greenwood, Brooklyn ASSET TYPE: Multifamily BUYER: Morwin Schmookler SELLER: Frustaci Family BROKER: Bobby Lawrence (@BobbyLawrence_Matthews), DJ Johnston (@DJ.Johnston_Matthews), Henry Hill (@HenryHillCRE), Jermaine Pugh (@JermainePugh_Matthews) & Bryan Kirk (@KirkBrya) - Matthews Real Estate Investment Services (@Matthews_REIS) SALE PRICE: $1,900,000 UNITS: 3 ~ PPU: $633,333 SF: 2,820 ~ PPSF: $674 NOTE FROM BROKER: If you have any questions relating to this transaction or own a similar property and would like to discuss current market conditions, we would like to connect. Bobby Lawrence Call/Text (718) 544-0337 [email protected].

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$101,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,750.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,006.97
Annual Debt Service$108,083.63