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195 Congress Street, Cobble...

Updated Dec 18, 2023

James Stafford Acquires Multifamily Property In Cobble Hill, Brooklyn For $4.9M
SOLDMultiFamily

James Stafford Acquires Multifamily Property In Cobble Hill, Brooklyn For $4.9M

195 Congress Street, Cobble Hill, Brooklyn, NY, USA

$8,500,000

$2,122/SF

Building Size

4,005 SF

Asset Type

MultiFamily

Closing

Aug 30, 2021

About this deal

AI

A multifamily property located at 183 Amity Street in Cobble Hill, Brooklyn has recently been sold for $4,900,000. The property has a building square footage of 3,449, with a price per square foot of $1,420. The buyer of the property is James Stafford, while the seller is Nina Gottlieb. The transaction took place on March 16, 2023. The property is zoned as R6 and LH-1, with a floor area ratio (FAR) of 1.38. The property falls under tax class 2A and has a lot size of 2,499 square feet, measuring 25 feet by 100 feet.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,900,000
  • Buyer: James Stafford
  • Seller: Nina Gottlieb
  • Building Square Footage: 3,449
  • Price per Square Foot: $1,420
  • Zoning: R6, LH-1
  • Floor Area Ratio (FAR): 1.38
  • Tax Class: 2A
  • Lot Size: 2,499 square feet
  • Lot Dimension: 25 ft x 100 ft

The sale of this property in Cobble Hill was facilitated by James Stafford as the buyer's representative. This transaction serves as a significant milestone for both the buyer and the seller, marking a successful real estate deal in the Cobble Hill market. The property's location and characteristics make it a desirable asset within the multifamily residential sector.

Players

Matthew Solomon

Compass

Broker

$8.5M

vol

1 deal

Broker

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $2.1K per square foot on a published $8.5M for 4,005 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.87%

Cash-on-Cash

-0.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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