Updated Dec 21, 2023
Marcus & Millichap Represents Sale Of Multifamily Property In Midwood For $12.5M
1685 East 5th Street, Brooklyn, New York 11230, United States
$12,500,000
$227/SF
Building Size
55,000 SF
Asset Type
MultiFamily
Closing
Oct 26, 2022
About this deal
AI
Located in the Midwood market, the multifamily property at 1685 E 5th Street was recently sold for a sale price of $12,500,000. The property comprises 61 units, resulting in a price per unit of $204,918. With a total square footage of 55,000, the price per square foot amounts to $227.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,500,000
- Address: 1685 E 5th Street
- Market: Midwood
The sale was facilitated by Matt Fotis and Dustin Cook from Marcus & Millichap, who represented the parties involved in the transaction.
On the Map
$12,500,000
$227/SF
MultiFamily
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Brooklyn 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
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93