Updated Dec 21, 2023
Joseph Bekar Acquires Multifamily Property In Gravesend, Brooklyn For $3M
1740 East 2nd Street, Brooklyn, New York 11223, United States
$3,000,000
$700/SF
Building Size
4,282 SF
Asset Type
MultiFamily
Closing
Jul 13, 2022
About this deal
AI
The multifamily property located at 1740 East 2nd Street in Gravesend, Brooklyn has been sold for $3,000,000. The property spans 4,282 square feet and has a buildable square footage (BSF) of 3,666. With a price per square foot (PPSF) of $700, the property offers a profitable investment opportunity. The lot size measures 2,933 square feet, with dimensions of 25 feet by 117.33 feet.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,000,000
- Zoning: R5, OP
- FAR: 1.46
- Tax Class: 1
- Lot Size: 2,933 sqft
- Lot Dimension: 25 ft x 117.33 ft
Joseph Bekar has acquired the property from Emile Mimran. The buyer and seller were represented by their respective brokers in this transaction.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93