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185 President Street, Brook...

Updated Dec 20, 2023

Marc A Landis Acquires Multifamily Property On President Street In Carroll Gardens, Brooklyn For $5.32M
SOLDMultiFamily

Marc A Landis Acquires Multifamily Property On President Street In Carroll Gardens, Brooklyn For $5.32M

185 President Street, Brooklyn, New York 11231, United States

$5,320,000

$1,766/SF

Building Size

3,011 SF

Asset Type

MultiFamily

Closing

Sep 15, 2022

About this deal

AI

The multifamily property located at 185 President Street in Carroll Gardens, Brooklyn was recently sold. The transaction took place on September 16, 2022, with Marc A Landis as the buyer and Louis Griseta as the seller. The property is zoned as R6B and has a floor area ratio (FAR) of 2.56. The tax classification for this property is 1, indicating it is a residential property.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $5,320,000
  • Building Square Footage: 2,352
  • Price per Square Foot: $2,261
  • Lot Size: 1,176
  • Last Sale Price: $2,100,000 (02/02/2016)
  • Permits: Alteration 2 (02/26/2019)
  • Lot Dimension: 15.83 ft x 100 ft

The buyer, Marc A Landis, and the seller, Louis Griseta, were the key individuals involved in this transaction. They completed the deal for the multifamily property at 185 President Street in Carroll Gardens, Brooklyn. The property, which has a total building square footage of 2,352, was sold for a price of $5,320,000. The sale price per square foot was $2,261. The lot size is 1,176, and the property had previously sold for $2,100,000 on February 2, 2016. An alteration permit was obtained on February 26, 2019. The lot dimension is 15.83 ft x 100 ft.

Players

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $1.8K per square foot on a published $5.3M for 3,011 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.98%

Cash-on-Cash

-0.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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