Marcus & Millichap Brokers Sell Bed-Stuy Multifamily Property For $2.7M
217 Hancock Street
$2,700,000
$381/SF
Building Size
7,072 SF
Asset Type
MultiFamily
Closing
Oct 20, 2023
AI
A multifamily property located at 217 Hancock Street in Bed-Stuy, Brooklyn has been sold for $2,700,000. The property consists of 10 units with an average price per unit of $270,000. The total square footage is 7,072, resulting in a price per square foot of $382.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,700,000
- Address: 217 Hancock Street, Bed-Stuy, Brooklyn
- Market: Bed-Stuy, Brooklyn
- Seller: Bren Salamon & Alex Maroni
- Seller's Representative: Shaun Riney & Daniel Greenblatt - Marcus & Millichap
Shaun Riney and Daniel Greenblatt from Marcus & Millichap represented the sellers, Bren Salamon and Alex Maroni, in the transaction.
Players
Brooklyn 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
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93