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
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