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222 Van Buren Street

Ahmadu Garba And Jordan Garba Purchase Multifamily Building At 222 Van Buren Street For $2.7M
SOLDMultiFamily

Ahmadu Garba And Jordan Garba Purchase Multifamily Building At 222 Van Buren Street For $2.7M

222 Van Buren Street

$2,700,000

$1,184/SF

Building Size

2,280 SF

Asset Type

MultiFamily

Closing

Oct 21, 2024

AI

A five-unit residential building located at 222 Van Buren Street in Bedford Stuyvesant, Brooklyn was sold for $2,700,000. The building encompasses a total square footage of 2,280, with a price per square foot of $1,184. It has a building size factor (BSF) of 3,800, translating to a price per BSF of $711.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,700,000
  • Address: 222 Van Buren Street
  • Market: Bedford Stuyvesant, Brooklyn
  • Building Size Factor (BSF): 3,800
  • Price per BSF: $711
  • Square Footage (SF): 2,280
  • Price per Square Foot (PPSF): $1,184
  • Buyer: Ahmadu Garba & Jordan Garba
  • Seller: Alex Piroozian
  • Date of Sale: October 21, 2024

Ahmadu Garba and Jordan Garba represented the buyers in this transaction, while Alex Piroozian was the seller involved in the deal.

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