Updated Dec 19, 2023
Jonathan Strasser Acquires Multifamily Property In Borough Park, Brooklyn For $4M
1658 59th Street, Brooklyn, New York 11204, United States
$4,000,000
$238/SF
Building Size
16,749 SF
Asset Type
MultiFamily
Closing
Aug 10, 2022
About this deal
AI
A multifamily property located at 1658 59th Street in Borough Park, Brooklyn has been sold in a recent transaction. The property is zoned as R5 and features a lot size of 8,014 square feet. The sale took place on August 11, 2022.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $4,000,000
- Building Square Footage: 10,018
- Price per Building Square Foot: $399
- Lot Dimension: 80 ft x 100.17 ft
- Market: Borough Park, Brooklyn
The buyer of the property is Jonathan Strasser. The property has a total square footage of 16,749, with a price per square foot of $238. The Floor Area Ratio (FAR) of the property is 2.09 and it falls under tax class 1. An alteration permit was obtained for the property on August 16, 2019.
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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93