Updated Dec 20, 2023
SOLDMultiFamily
Kheder Fatiha Acquires Multifamily Property In Homecrest, Brooklyn For $6.3M
1957 Ocean Parkway
$6,300,000
$2,314/SF
Building Size
2,722 SF
Asset Type
MultiFamily
Closing
Feb 21, 2023
About this deal
AI
A multifamily property located at 1957 Ocean Parkway in Homecrest, Brooklyn has been sold. The property, which is zoned as R5 and OP, was sold on February 21, 2023.
Summary of transaction details
- Property Type: Multifamily
- Address: 1957 Ocean Parkway, Homecrest, Brooklyn
- Market: Homecrest, Brooklyn
- Buyer: Kheder Fatiha
- Seller: Frank Coppolino
- Price: $6,300,000
- Building Square Footage: 6,186
- Price per Building Square Foot: $1,018
- Lot Size: 4,949 sq ft
- Lot Dimension: 33 ft x 150 ft
The deal was facilitated by Kheder Fatiha, who represented the buyer, and Frank Coppolino, the seller.
Players
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
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93