Updated Dec 21, 2023
Brown Harris Stevens Acquires Multifamily Property In Ridgewood, Queens For $6.9M
20-27 Menahan Street, Brooklyn, New York 11221, United States
$6,925,000
$834/SF
Building Size
8,300 SF
Asset Type
MultiFamily
Closing
Mar 9, 2022
About this deal
AI
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).
On the Map
$6,925,000
$834/SF
MultiFamily
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Players
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
2.29%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93