Updated Dec 21, 2023
Bestreich Realty Group Sells Ridgewood Multifamily For $3.6M With Buyer's Rep Ari Harkov & Seller's Rep Derek Bestreich & Luke Sproviero
18-28 George Street, Queens, New York 11385, United States
$3,600,000
$738/SF
Building Size
4,875 SF
Asset Type
MultiFamily
Closing
Jan 27, 2022
About this deal
AI
Located in Ridgewood, Queens, the multifamily property at 18-28 George Street has been sold for a total of $3,600,000. The deal was facilitated by Bestreich Realty Group (BRG), represented by Derek Bestreich and Luke Sproviero, while the buyer, represented by Ari Harkov from Brown Harris Stevens, secured this coveted investment.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $3,600,000
- Units: 6
- Price per Unit: $600,000
- Total Square Footage: 4,875
- Price per Square Foot: $738
Derek Bestreich and Luke Sproviero from Bestreich Realty Group (BRG) successfully closed the deal as the seller's representatives. On the other hand, the buyer's interests were represented by Ari Harkov from Brown Harris Stevens. This transaction exhibits the compatibility of the parties involved in ensuring a smooth and efficient sale.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Luke Sproviero to view all their deals.
Browse New York multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93