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223 Bainbridge Street, Broo...

Samuel Kooris Acquires Apartment In Bedford-Stuyvesant, Brooklyn For $3.7M
SOLDMultiFamily

Samuel Kooris Acquires Apartment In Bedford-Stuyvesant, Brooklyn For $3.7M

223 Bainbridge Street, Brooklyn, New York 11233, United States

$3,700,000

$400/SF

Building Size

9,240 SF

Asset Type

MultiFamily

Closing

Aug 2, 2022

AI

The property asset involved in this transaction is an apartment located at 223 Bainbridge Street in the Bedford-Stuyvesant neighborhood of Brooklyn. The property is zoned as R6B and has a total buildable square footage (BSF) of 6,000. The price for the property was $3,700,000, with a price per buildable square footage (PPBSF) of $616. The property has a total square footage (SF) of 9,240, with a price per square foot (PPSF) of $400. The lot size is 3,000 square feet and the lot dimensions are 30 feet by 100 feet. The previous sale price of the property was $2,600,000 on 04/02/2015, and there was an alteration permit issued on 03/08/2016.

Summary of transaction details

  • Property Type: Apartment
  • Transaction Amount: $3,700,000
  • Market: Bedford-Stuyvesant, Brooklyn

In this transaction, the buyer of the property was Samuel Kooris and the seller was Eugene F. DelFavero.

It is important to note that the property has a floor area ratio (FAR) of 3.08 and falls under tax class 2B.

Players

Samuel Kooris

Alchemy Ventures

Buyer

$61.8M

vol

7 deals

Buyer

Eugene F. DelFavero

Alcion Ventures

Seller

$99.6M

vol

5 deals

Seller

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.29%

Cash-on-Cash

-1.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93