Updated Dec 20, 2023
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.
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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