Updated Oct 25, 2024
Magdy Baskharoun Acquires Multifamily Property In Bensonhurst, Brooklyn For $4.5M
1965 Bay Ridge Avenue, Brooklyn Ny 11204
$4,500,000
$190/SF
Building Size
23,680 SF
Asset Type
MultiFamily
Closing
Jan 4, 2023
About this deal
AI
The multifamily property located at 1965 Bay Ridge Avenue in Bensonhurst, Brooklyn has been sold for a total price of $4,500,000. The property consists of 27 units, with an average price per unit of $166,667. The total square footage of the property is 23,680, resulting in a price per square foot of $190. The transaction took place on January 4, 2023.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,500,000
- Units: 27
- Average Price per Unit: $166,667
- Total Square Footage: 23,680
- Price per Square Foot: $190
- Address: 1965 Bay Ridge Avenue, Bensonhurst, Brooklyn
- Market: Bensonhurst, Brooklyn
The buyer of the property is Magdy Baskharoun, while the seller is Raviele & Libretti Family. John Brennan from Marcus & Millichap represented the buyer in the transaction.
New York 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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93