Yisroel Rosen Acquires Multifamily Property In Ridgewood, Queens For $2.29M
SOLD
$2,290,000
New York
See Similar DealsMultiFamily9,150 SF
Sold 09/01/2022
SOLD
Yisroel Rosen Acquires Multifamily Property In Ridgewood, Queens For $2.29M
1868 Palmetto Street
See Similar DealsMultiFamily9,150 SF
Sold 09/01/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$250
Total Square Footage:9,150 SF
Transaction Type:Sale
A multifamily property located at 18-68 Palmetto Street & 1369 Greene Avenue in Ridgewood, Queens and Bushwick, Brooklyn has been sold for a total price of $2,290,000. The property consists of 12 units with an average price per unit of $190,833. It spans a total of 9,150 square feet, with a price per square foot of $250.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $2,290,000
- Units: 12
- Average Price Per Unit: $190,833
- Square Footage: 9,150
- Price Per Square Foot: $250
The buyer of the property is Yisroel Rosen, while the seller is Simon Marom. The deal was facilitated by brokers Zachary Fuchs and Moshe Goldberger from GFI Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$122,133.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,135.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,855.77
Annual Debt Service$130,269.22
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