East Group Capital Acquires Multifamily Property In Brooklyn For $1.35M
SOLD
$1,350,000
New York
See Similar DealsMultiFamily51,750 SF
Sold
SOLD
East Group Capital Acquires Multifamily Property In Brooklyn For $1.35M
1656 Dekalb Ave, Brooklyn, NY 11237, USA
See Similar DealsMultiFamily51,750 SF
Sold
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$26
Total Square Footage:51750 SF
Transaction Type:Sale
The multifamily property located at 1656 Dekalb Avenue in Brooklyn has been sold in a closed transaction. The property spans a total of 5,175 square feet and was listed with an asking price of $1,500,000. The final sale price for the property was $1,350,000, resulting in a price per square foot of $260.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,350,000
- Address: 1656 Dekalb Avenue, Brooklyn
- Square Footage: 5,175
- Market: Brooklyn
The sellers of the property were identified as Michael Siegel and Michael Sternberg. The buyer in this transaction was East Group Capital. Representing the seller was Daniel Tropp, while the buyer was represented by Jonathan Berman from Ariel Property Advisors.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$72,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,796.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,399.69
Annual Debt Service$76,796.26
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