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167 Irving Ave, Brooklyn, N...

Eric Krantz Acquires Bushwick Multifamily From Mark And Christopher Devli For $2.45M
SOLDMultiFamily

Eric Krantz Acquires Bushwick Multifamily From Mark And Christopher Devli For $2.45M

167 Irving Ave, Brooklyn, NY 11237, USA

Building Size

5,508 SF

Asset Type

MultiFamily

Closing

Jul 11, 2018

AI

Located in the Bushwick neighborhood of Brooklyn, the multifamily property at 167 Irving Avenue has been sold for a price of $2,450,000. With a price per square foot of $445, this transaction was closed on July 12, 2018.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $2,450,000
  • Price Per Square Foot: $445

The buyer of the property is Eric Krantz, while the sellers include Mark Devli, Christopher Devli, and Sam Gelin. The deal was facilitated by TerraCRG, with Matthew Cosentino, Eric Satanovsky, and Fred Bijou representing the parties involved.

Players

Fred Bijou

Bijou Equities

Broker

$107.3M

vol

33 deals

Broker

Eric Krantz

Buyer

$2.7M

vol

3 deals

Buyer
DG
Devli GroupSeller

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93