James Grech Acquires Multifamily Property In Carroll Gardens, Brooklyn For $2.25M
SOLD
$2,250,000
New York
See Similar DealsMultiFamily3,746 SF
Sold 12/21/2023
SOLD
James Grech Acquires Multifamily Property In Carroll Gardens, Brooklyn For $2.25M
188 West 9th Street
See Similar DealsMultiFamily3,746 SF
Sold 12/21/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$600
Total Square Footage:3,746 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$120,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,993.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,666.15
Annual Debt Service$127,993.77
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