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226 Cumberland Street, Broo...

Updated Dec 21, 2023

Anisa Javeri Acquires Multifamily Property In Fort Greene, Brooklyn For $3.8M
SOLDMultiFamily

Anisa Javeri Acquires Multifamily Property In Fort Greene, Brooklyn For $3.8M

226 Cumberland Street, Brooklyn, New York 11205, United States

$3,800,000

$1,485/SF

Building Size

2,558 SF

Asset Type

MultiFamily

Closing

Aug 14, 2022

About this deal

AI

The property involved in this transaction is a multifamily building located at 226 Cumberland Street, in the Fort Greene neighborhood of Brooklyn. The property has a zoning classification of R6B and sits on a lot size of 1,650 square feet. The building has a total square footage of 3,300, with each unit comprising approximately 2,558 square feet. The property was sold for a price of $3,800,000, resulting in a price per square foot of $1,485. The buyer in this transaction was Anisa Javeri, while the seller was Tove C Leonard.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,800,000
  • Market: Fort Greene, Brooklyn
  • Zoning: R6B
  • Lot Size: 1,650 sq ft

The building has a floor area ratio (FAR) of 1.55 and falls under tax class 1. The previous sale of the property took place on January 19, 2010, at a price of $1,050,000. An alteration permit was issued on June 29, 2011, labeled as Alteration 2. The lot dimensions are 16.5 feet by 100 feet.

Players

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $1.5K per square foot on a published $3.8M for 2,558 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.17%

Cash-on-Cash

-1.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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