Balzano Family Acquires 14-Unit Multifamily Property In Brooklyn For $1.95M
SOLD
$1,950,000
New York
See Similar DealsMultiFamily13,350 SF
Sold 12/10/2020
SOLD
Balzano Family Acquires 14-Unit Multifamily Property In Brooklyn For $1.95M
195 Bay 29th Street, Brooklyn, NY, USA
See Similar DealsMultiFamily13,350 SF
Sold 12/10/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$146
Total Square Footage:13,350 SF
Transaction Type:Sale
An multifamily property located at 195 Bay 29th Street in Brooklyn was recently sold for $1,950,000. The property consists of 14 units with a total square footage of 13,350. The price per unit was approximately $139,285, and the price per square foot was around $146. The sale took place on December 10, 2020.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,950,000
- Address: 195 Bay 29th Street
- Market: Brooklyn
- Zoning: R5
The buyer of the property was the Balzano family, while the seller was the Kelly family. The transaction was facilitated by brokers Shlomo Antebi, Yosef Katz, and Erik Yankelovich from ARG_NYC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$103,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,927.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,243.99
Annual Debt Service$110,927.94
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