Mike Niamonitakis Acquires Multifamily Property In Bath Beach, Brooklyn For $9.6M
SOLD
$9,600,000
+ 2
New York
See Similar DealsMultiFamily74,648 SF
Sold 02/28/2020
SOLD
Mike Niamonitakis Acquires Multifamily Property In Bath Beach, Brooklyn For $9.6M
1901 84th St, Brooklyn, NY 11214, USA
See Similar DealsMultiFamily74,648 SF
Sold 02/28/2020
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$128
Total Square Footage:74,648 SF
Transaction Type:Sale
The multifamily property located at 1901 84th Street in Bath Beach, Brooklyn has been sold in a recent transaction. The property spans a total area of 74,648 square feet and consists of 79 units. The sale price for this transaction was $9,600,000, resulting in a price per square foot of $128. The seller of the property was Beth Lewis, while the buyer was Mike Niamonitakis.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,600,000
- Square Footage: 74,648
- Price per square foot: $128
- Number of units: 79
Peter Von Der Ahe, Shaun Riney, Joe Koicim, and Mark Zarrella from Marcus&Millichap acted as the brokers in this transaction, representing both the buyer and the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$511,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,106.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,508.90
Annual Debt Service$546,106.77
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