Updated Oct 29, 2024
Light Grove Capital Acquires Multifamily Property In Brooklyn For $3.35M
18 Orient Avenue
$3,350,000
$1,196/SF
Building Size
2,800 SF
Asset Type
MultiFamily
Closing
Dec 8, 2022
About this deal
AI
Located at 18 Orient Avenue in Brooklyn, this multifamily property was recently sold in a closed transaction. The property encompasses 2,800 square feet and consists of 3 units. The sale price for this property was $3,350,000, averaging to a price per unit of $1,116,667. The price per square foot equates to $1,196.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,350,000
- Address: 18 Orient Avenue
- Market: Brooklyn
Light Grove Capital, represented by Mike Pitman, acquired the property from Karl Larocca. The sales transaction was facilitated by Yuval Vidal from Compass. This deal showcases the involvement of key individuals and companies in the real estate market of Brooklyn.
Players
New York 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
4.74%
Cash-on-Cash
-1.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93