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202 Cornelia Street

Chanon Gordon Of Gordon Management Acquires Multifamily Property On Cornelia Street In Brooklyn For $800K
SOLDMultiFamily

Chanon Gordon Of Gordon Management Acquires Multifamily Property On Cornelia Street In Brooklyn For $800K

202 Cornelia Street

$800,000

$320/SF

Building Size

2,500 SF

Asset Type

MultiFamily

Closing

May 9, 2019

AI

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.

Players

Kavan Edwards

Vision Realty Advisors

Broker

$800K

vol

2 deals

Broker
Joseph L. Jemal

Joseph L. Jemal

ICER Properties

Seller

$598.7M

vol

36 deals

Seller

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

19.83%

Cash-on-Cash

-5.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93