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188 West 9th Street

James Grech Acquires Multifamily Property In Carroll Gardens, Brooklyn For $2.25M
SOLDMultiFamily

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

Gregory Melanson

Weber Frank Real Estate

Broker

$91.1M

vol

19 deals

Broker

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