Updated Jun 22, 2026
SOLDMultiFamily
Lawrence Baudert Acquires Multifamily Property At 219 Covert Street From David Malkoukian Jonathan Anobian Fred Rahimian For $2.15M
219 Covert Street
$2,150,000
$716/SF
Building Size
3,000 SF
Asset Type
MultiFamily
Closing
May 4, 2025
About this deal
AI
The property asset involved in the transaction is located at 219 Covert Street in Brooklyn, classified as a multifamily asset. It features a sale price of $2,150,000 and has a total square footage of 3,000, which translates to a price per square foot of $716.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,150,000
- Sale Date: 5/5/2025
- Buyer: Lawrence Baudert
- Seller: David Malkoukian, Jonathan Anobian & Fred Rahimian
David Malkoukian and Jonathan Anobian, the sellers, were the original purchasers of the property and have resold it. They are actively seeking new projects and invite brokers and sellers to bring off-market opportunities for future transactions.
On the Map
$2,150,000
$716/SF
MultiFamily
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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
7.38%
Cash-on-Cash
-2.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93