Updated Dec 20, 2023
Investment Property Realty Group Acquires Multifamily Property In Crown Heights For $9.6M
1627 Pacific Street, Brooklyn, New York 11213, United States
$9,600,000
$654/SF
Building Size
14,670 SF
Asset Type
MultiFamily
Closing
Nov 3, 2022
About this deal
AI
A multifamily property located at 1627, 1629 & 1631 Pacific St in Crown Heights has been sold for a total of $9,600,000. The property consists of 22 units with a price per unit of $436,364. The total square footage of the property is 14,670, with a price per square foot of $654.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,600,000
- Units: 22
- Price per Unit: $436,364
- Total Square Footage: 14,670
- Price per Square Foot: $654
The sale of this multifamily property was brokered by Derek Bestreich, Luke Sproviero, Adam Lobel, and Toby Waring, from the Investment Property Realty Group (IPRG).
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
1.65%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93