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Greenbrook Partners Acquires Multifamily In Bushwick, Brooklyn For $3.55M

Property Image
SOLD
$3,550,000

New York

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MultiFamily5,901 SF
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Property Image
SOLD

Greenbrook Partners Acquires Multifamily In Bushwick, Brooklyn For $3.55M

188 Cooper Street

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MultiFamily5,901 SF
Sold
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$601
Total Square Footage:5901 SF
Transaction Type:Sale

The multifamily property located at 188 Cooper Street in Bushwick, Brooklyn has been sold in a closed transaction. The property consists of 8 units with a total square footage of 5,901. The sale price for the property was $3,550,000, resulting in a price per unit of $443,750 and a price per square foot of $602.

Summary of transaction details:

The buyer in this transaction was Greenbrook Partners, and the seller was David Shavolian. Representing the buyer was Ari Harkov from Brown Harris Stevens, while the seller was represented by Matthew Gillis and Dov Chein from Ariel Property Advisors. The deal was successfully closed with a sale price of $3,550,000.

Players

Matthew (Matt) Gillis
25 deals$295M volume
BROKER

Dov Chein
Ariel Property Advisors
9 deals$27.4M volume
BROKER

Ari Harkov
Brown Harris Stevens
86 deals$429.1M volume(212) 381-4246
BROKER

Greenbrook Partners
BUYER

Details

SOLD
IMAGE: Ari Harkov, Dov Chein & Matthew Gillis DATE: 12/29/2022 ADDRESS: 188 Cooper Street MARKET: Bushwick, Brooklyn ASSET TYPE: Multifamily BUYER: Greenbrook Partners SELLER: David Shavolian BUYER'S REP: Ari Harkov - Brown Harris Stevens SELLER'S REP: Matthew Gillis (@MatthewlGillis) & Dov Chein - Ariel Property Advisors SALE PRICE: $3,550,000 UNITS: 8 ~ PPU: $443,750 SF: 5,901 ~ PPSF: $602

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$189,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,612.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,828.81
Annual Debt Service$201,945.73