Meridian Properties Acquires 16-Unit Multifamily In Prospect Lefferts Gardens For $2.5M
SOLD
$2,500,000
New York
See Similar DealsMultiFamily192,000 SF
Sold 01/15/2020
SOLD
Meridian Properties Acquires 16-Unit Multifamily In Prospect Lefferts Gardens For $2.5M
177 Lenox Rd, Brooklyn, NY 11226, USA
See Similar DealsMultiFamily192,000 SF
Sold 01/15/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$13
Total Square Footage:192,000 SF
Transaction Type:Sale
The multifamily property located at 177 Lenox Road in Prospect Lefferts Gardens was recently sold for a total of $2,500,000. The property spans across 19,200 square feet, resulting in a price per square foot of $130. This multifamily asset consists of 16 units in total, with an average price per unit of $156,250.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Square Footage: 19,200
- Price per Square Foot: $130
- Number of Units: 16
- Price per Unit: $156,250
The seller of the property was Samuel Gay, while the buyer was Meridian Properties represented by Mike Niamonitakis. The deal was facilitated by Erik Rodriguez of Rodriguez Commercial Realty (@rcr_ny).
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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