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Teresa Ann Acquires Multi-Family Property In Brooklyn For $1.45M

Property Image
SOLD
$1,450,000

New York

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MultiFamily4,275 SF
Sold 12/20/2017
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Property Image
SOLD

Teresa Ann Acquires Multi-Family Property In Brooklyn For $1.45M

20 Harrison Pl, Brooklyn, NY 11206, USA

See Similar Deals
MultiFamily4,275 SF
Sold 12/20/2017
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$339
Total Square Footage:4,275 SF
Transaction Type:Sale

The multi-family property located at 20 Harrison Place in Brooklyn, New York has been sold for a price of $1,450,000. The transaction was completed between the seller, Silvershore, and the buyer, Teresa Ann. The property is situated in the thriving market of East Williamsburg.

Summary of transaction details

  • Property Type: Multi-family
  • Transaction Amount: $1,450,000
  • Seller: Silvershore
  • Buyer: Teresa Ann
  • Broker: Eastern Consolidated - Jonathan Schwartz

The property has a net operating income (NOI) of $70,000 and a capitalization rate (CAP rate) of 4.8%. Despite the upcoming L train shutdown, the area of East Williamsburg where the property is located continues to thrive.

Players

Jonathan (Jon) Schwartz
Meridian Capital Group
Jonathan Schwartz
12 deals$108M volume
BROKER
Walker & Dunlop
Walker & Dunlop
BROKERAGE
S
Silvershore
SELLER

Details

SOLD
IMAGE: 12/20/17 ADDRESS: 20 Harrison Place CITY: New York MARKET: Brooklyn ASSET TYPE: Multi family SELLER: Silvershore BUYER: Teresa Ann BROKER: Eastern Consolidated - Jonathan Schwartz PRICE: $1,450,000 NOI: $70K CAP RATE; 4.8% NOTE FROM BROKER: This part of east Williamsburg is still thriving regardless of the upcoming L train shutdown.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$77,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,151.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,873.74
Annual Debt Service$82,484.88