Marcus & Millichap Represents Sale Of Multifamily Property In Midwood For $12.5M
SOLD
$12,500,000
New York
See Similar DealsMultiFamily55,000 SF
Sold 10/26/2022
SOLD
Marcus & Millichap Represents Sale Of Multifamily Property In Midwood For $12.5M
1685 East 5th Street, Brooklyn, New York 11230, United States
See Similar DealsMultiFamily55,000 SF
Sold 10/26/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$227
Total Square Footage:55,000 SF
Transaction Type:Sale
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.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$666,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,409.85
Cash-on-Cash Return-1.27%
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Annual Debt Service$711,076.53
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