Updated Oct 29, 2024
Calyer Holdings LLC Acquires Property At 229 Calyer St Brooklyn For $1.3M With IPRG's Representatives
229 Calyer St, Brooklyn, NY, 11222
$1,300,000
Building Size
—
Asset Type
MultiFamily
Closing
Apr 9, 2021
About this deal
AI
The property located at 229 Calyer St, Brooklyn, NY, 11222, was sold for $1,300,000. This multifamily asset features eight apartments and is situated at the intersection of McGuinness Blvd and Eckford Street. The zoning classification for this property is R7A, C2-4, with a Floor Area Ratio (FAR) of 4 and a tax class of 2B.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,300,000.00
- Address: 229 Calyer St, Brooklyn, NY, 11222
- Market: Brooklyn
- Buyer: Calyer Holdings LLC
- Seller: 229 Calyer Street LLC
- Buyer's Representatives: Corey Haynes, Hakeem Lecky (Investment Property Realty Group (IPRG))
- Seller's Representatives: Derek Bestreich, Luke Sproviero, Donal Flaherty, Hakeem Lecky, Corey Haynes
The transaction was represented by multiple individuals from Investment Property Realty Group (IPRG), indicating a collaborative effort in facilitating the sale from both the buyer's and seller's side. Key representatives involved include Corey Haynes and Hakeem Lecky for the buyer and Derek Bestreich, Luke Sproviero, Donal Flaherty for the seller.
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
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93