Chanon Gordon Of Gordon Management Acquires Multifamily Property On Cornelia Street In Brooklyn For $800K
SOLD
$800,000
New York
See Similar DealsMultiFamily2,500 SF
Sold 05/09/2019
SOLD
Chanon Gordon Of Gordon Management Acquires Multifamily Property On Cornelia Street In Brooklyn For $800K
202 Cornelia Street
See Similar DealsMultiFamily2,500 SF
Sold 05/09/2019
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$320
Total Square Footage:2,500 SF
Transaction Type:Sale
Located in Brooklyn, Bushwick, the multi-family property located at 202 Cornelia Street was recently sold in a closed transaction. The property spans 2,500 square feet and boasts a sale price of $800,000, resulting in a price per square foot of $320.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $800,000
- Address: 202 Cornelia Street
- Market: Brooklyn, Bushwick
The seller of the property was Joseph Jemal, representing ICER Properties, while Chanon Gordon, from Gordon Management, acted as the buyer. The deal was facilitated by Kavan Edwards from Vision Realty Advisors.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$42,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,842.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,792.41
Annual Debt Service$45,508.90
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