Marcus & Millichap Brokers Sell Bed-Stuy Multifamily Property For $2.7M
SOLD
$2,700,000
+ 1
New York
See Similar DealsMultiFamily7,072 SF
Sold 10/20/2023
SOLD
Marcus & Millichap Brokers Sell Bed-Stuy Multifamily Property For $2.7M
217 Hancock Street
See Similar DealsMultiFamily7,072 SF
Sold 10/20/2023
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$381
Total Square Footage:7,072 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$144,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53
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