Updated Oct 28, 2024
McDonald Condon Bartels Acquires Multifamily Property In Cobble Hill For $4.2M
224 Baltic Street, Brooklyn, New York 11201, United States
$4,200,000
$1,790/SF
Building Size
2,346 SF
Asset Type
MultiFamily
Closing
Oct 7, 2021
About this deal
AI
A multifamily property located at 224 Baltic Street in Cobble Hill has been sold for $4,200,000. The property, with a total square footage of 2,346, is zoned as R6 and has a floor area ratio (FAR) of 1.41. The buyer, McDonald Condon Bartels, purchased the property from the seller, Emily S Moyer. The transaction was facilitated by Ari Harkov from Brown Harris Stevens.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,200,000
- Address: 224 Baltic Street
- Market: Cobble Hill
- Zoning: R6
The property, which sits on a lot size of 1,664 square feet, was sold at a price of $1,790 per square foot. The building has a total buildable square footage (BSF) of 4,044, resulting in a price per buildable square foot (PPBSF) of $1,038. The last recorded sale of the property was on December 17, 2014, for $300,000. An alteration permit was issued on October 16, 2009.
The lot dimensions of the property are 16.67 ft x 99.83 ft. The property falls under tax class 1.
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $1.8K per square foot on a published $4.2M for 2,346 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93