Brown Harris Stevens Acquires Multifamily Property In Ridgewood, Queens For $6.9M
SOLD
$6,925,000
+ 4
New York
See Similar DealsMultiFamily8,300 SF
Sold 03/10/2022
SOLD
Brown Harris Stevens Acquires Multifamily Property In Ridgewood, Queens For $6.9M
20-27 Menahan Street, Brooklyn, New York 11221, United States
See Similar DealsMultiFamily8,300 SF
Sold 03/10/2022
+ 4
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$834
Total Square Footage:8,300 SF
Transaction Type:Sale
In Ridgewood, Queens, a multifamily property located at 20-27 Menahan St. and 581-583 Fairview Ave. has been sold for a total price of $6,925,000. The property consists of 12 units, with each unit averaging a price per unit of $577,083. The total square footage of the property is 8,300, resulting in a price per square foot of $834.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,925,000
- Units: 12
- Price Per Unit: $577,083
- Square Footage: 8,300
- Price Per Square Foot: $834
The buyer's representative in this deal was Ari Harkov from The Harkov Lewis Team at Brown Harris Stevens. On the other hand, the seller's representatives were Derek Bestreich, Luke Sproviero, Steve Reynolds, Tom Reynolds, Brian Davila, and Sean Mashihi from Bestreich Realty Group (BRG).
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$369,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,603.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,828.03
Annual Debt Service$393,936.40
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