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219 Kingsland Avenue

Updated Sep 5, 2024

Klosed Properties Acquires Multifamily Property On Kingsland Ave
SOLDMultiFamily

Klosed Properties Acquires Multifamily Property On Kingsland Ave

219 Kingsland Avenue

$3,150,000

$303/SF

Building Size

10,380 SF

Asset Type

MultiFamily

Closing

Aug 2, 2022

About this deal

AI

The recent sale in Greenpoint involved a multifamily property located at 219 Kingsland Ave. The property spans a total of 10,380 square feet and was sold for a price of $3,150,000, resulting in a price per square foot of $303.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $3,150,000
  • Address: 219 Kingsland Ave.
  • Market: Greenpoint

The buyer in this transaction was Klosed Properties, represented by Steven Kachanian and Adam Hajibai. The seller was the Gigante Family. The deal was facilitated by brokers Etan Hakimi and Issabella Mulic from Mitra Hakimi Realty Group.

Klosed Properties, a company actively seeking to expand its current portfolio, specializes in multifamily, mixed-use, and retail assets in the NY Metro area. For any opportunities, interested parties can contact Adam at 516-858-0024 or via email at [email protected].

Players

Etan Hakimi

Mitra Hakimi Realty Group

Broker

$15M

vol

8 deals

Broker

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $303 per square foot on a published $3.2M for 10,380 square feet (2022).

Visit Etan Hakimi to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.04%

Cash-on-Cash

-1.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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