James Grech Acquires Multifamily Property In Carroll Gardens, Brooklyn For $2.25M
188 West 9th Street
$2,250,000
$600/SF
Building Size
3,746 SF
Asset Type
MultiFamily
Closing
Dec 21, 2023
AI
The multifamily property located at 188 West 9th in Carroll Gardens, Brooklyn has been sold for a price of $2,250,000. The property consists of 5 units, translating to a price per unit of $450,000. The total square footage of the property is 3,746, resulting in a price per square foot of $601.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,250,000
- Units: 5
- Price per Unit: $450,000
- Square Footage: 3,746
- Price per Square Foot: $601
- Market: Carroll Gardens, Brooklyn
The buyer of the property is James Grech, while the seller is Timothy Higgins. The transaction was facilitated by Gregory Melanson and John Barney from Weber Frank Real Estate.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.05%
Cash-on-Cash
-2.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93