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Mendel Steiner Acquires Multifamily Building At 1801 50th Street In Borough Park For $5.3M
SOLD
$5,300,000
New York
See Similar DealsMultiFamily31,200 SF
Sold 09/05/2024
SOLD
Mendel Steiner Acquires Multifamily Building At 1801 50th Street In Borough Park For $5.3M
1801 50th Street
See Similar DealsMultiFamily31,200 SF
Sold 09/05/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$169
Total Square Footage:31,200 SF
Transaction Type:Sale
A multifamily residential building located at 1801 50th Street in Borough Park, Brooklyn, was sold for $5.3 million. The property comprises 34 units and spans a total area of 31,200 square feet, translating to a price per unit of $155,882 and a price per square foot of $170.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,300,000
- Units: 34
- Square Footage: 31,200
- Price Per Unit: $155,882
- Price Per Square Foot: $170
- Buyer: Mendel Steiner
- Seller: Paula Claire Gold
- Sale Date: September 5, 2024
Mendel Steiner completed the acquisition of the property from Paula Claire Gold, marking a notable transaction in the Brooklyn real estate market. The sale reflects a significant investment in the multifamily sector within this area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$282,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,829.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,124.70
Annual Debt Service$301,496.45
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