KlosedProperties Acquires Multifamily Property On Irving Avenue In Bushwick For $680K
211 Irving Avenue, Bushwick, Brooklyn, NY, USA
$680,000
$151/SF
Building Size
4,500 SF
Asset Type
MultiFamily
Closing
Jun 22, 2020
AI
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.
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
23.33%
Cash-on-Cash
-6.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93