Updated Dec 21, 2023
Augoustis Neamonitis Acquires Multifamily Property In Bath Beach For $3.55M With Brokers Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring & Andrew Cipolli
194 Bay 22nd Street, Brooklyn, New York 11214, United States
$3,550,000
$254/SF
Building Size
13,940 SF
Asset Type
MultiFamily
Closing
May 22, 2022
About this deal
AI
Located in Bath Beach, the multifamily property at 194 Bay 22nd St. has recently been sold. The property consists of 16 units with a total square footage of 13,940. The sale price reached $3,550,000, resulting in a per unit price of $221,875. The price per square foot stands at $254.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,550,000
- Address: 194 Bay 22nd St.
- Market: Bath Beach
- Buyer: Augoustis Neamonitis
- Brokers: Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, and Andrew Cipolli - Investment Property Realty Group (IPRG)
- Units: 16
- Price per Unit: $221,875
- Total Square Footage: 13,940
- Price per Square Foot: $254
The deal was facilitated by Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, and Andrew Cipolli, representing Investment Property Realty Group (IPRG). The successful sale of this multifamily property in Bath Beach showcases the expertise of the involved individuals and the commitment of IPRG to delivering exceptional real estate services.
On the Map
$3,550,000
$254/SF
MultiFamily
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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
4.47%
Cash-on-Cash
-1.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93