KlosedProperties Acquires Multifamily Property On Irving Avenue In Bushwick For $680K
SOLD
$680,000
+ 1
New York
See Similar DealsMultiFamily4,500 SF
Sold 06/22/2020
SOLD
KlosedProperties Acquires Multifamily Property On Irving Avenue In Bushwick For $680K
211 Irving Avenue, Bushwick, Brooklyn, NY, USA
See Similar DealsMultiFamily4,500 SF
Sold 06/22/2020
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$151
Total Square Footage:4,500 SF
Transaction Type:Sale
A multifamily property located at 211 Irving Avenue in Bushwick was recently sold. The property, with a total square footage of 4,500, was sold for a price of $680,000, resulting in a price per square foot of $151. The transaction took place on June 22, 2021.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $680,000
- Address: 211 Irving Avenue
- Market: Bushwick
- Tax Class: 2A
The buyer of the property was Klosed Properties, represented by Steven Kachanian and Adam Hajibai. The seller was the Estate of Cecilia Anekwe. Brown Harris Stevens, with Leigh Wallace as the broker, facilitated the transaction. Additionally, Jason Au served as the mortgage broker.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$36,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,415.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,223.55
Annual Debt Service$38,682.56
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