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Harold Martin Acquires Multifamily Property In Bedford - Stuyvesant For $8.2M

Property Image
SOLD
$8,200,000
Thomas (Tom) Shihadeh
Daniel Greenblatt
+ 2

New York

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MultiFamily13,970 SF
Sold 06/07/2018
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Property Image
SOLD

Harold Martin Acquires Multifamily Property In Bedford - Stuyvesant For $8.2M

222 Kosciuszko Street, Bedford-Stuyvesant, Brooklyn, NY, USA

See Similar Deals
MultiFamily13,970 SF
Sold 06/07/2018
Thomas (Tom) Shihadeh
Daniel Greenblatt
+ 2
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$587
Total Square Footage:13,970 SF
Transaction Type:Sale

A multifamily property located at 222 Kosciuszko Street in Bedford - Stuyvesant, Brooklyn, was recently sold for a total price of $8,200,000. The property has a total square footage of 13,970, resulting in a price per square foot of $612. The transaction involved the sale of 16 units at a price of $534,375 per unit.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $8,200,000
  • Total Square Footage: 13,970
  • Price Per Square Foot: $612
  • Units: 16

The seller of the property was Isaac Abraham of Witnick Properties. The buyer, Harold Martin, acquired the property through the involvement of brokers Shaun Riney, Daniel Greenblatt, William Grover, and Thomas Shihadeh.

Players

Daniel Greenblatt
69 deals$263.4M volume
BROKER

Shaun Riney
Marcus & Millichap
355 deals$1.8B volume(718) 475-4369
BROKER

Thomas (Tom) Shihadeh
Marcus & Millichap
15 deals$46.5M volume
BROKER

William Grover
Newmark
11 deals$15.6M volume
BROKER

Isaac Abraham
Arbor Realty Trust
15 deals$160.8M volume(516) 426-5844
BROKER

Details

SOLD
IMAGE: Tom Shihadeh, Will Grover, Mark Zarella and Daniel Greenblatt DATE: 6/07/2018 ADDRESS: 222 Kosciuszko Street CITY: Brooklyn MARKET: Bedford - Stuyvesant ASSET TYPE: Multifamily SELLER: Isaac Abraham of Witnick Properties BUYER: Harold Martin BROKERS: Shaun Riney, Daniel Greenblatt, William Grover, Thomas Shihadeh PRICE: $8,200,000 TOTAL SF: 13,970 ~ PSF: $612 PPU: $534,375 ~ UNITS: 16

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$29,132.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,872.18
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