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211 Irving Avenue, Bushwick...

KlosedProperties Acquires Multifamily Property On Irving Avenue In Bushwick For $680K
SOLDMultiFamily

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

Leigh Wallace

Broker

$680K

vol

1 deal

Broker
Adam Hajibai

Adam Hajibai

Klosed Properties

Buyer

$76.1M

vol

21 deals

Buyer

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