Abe Cohen, Steve Davis, And Steven Rosenberg Acquire Multi Family Property In Brooklyn For $4.6M
230 President St, Brooklyn, NY 11231, USA
Building Size
9,500 SF
Asset Type
MultiFamily
Closing
Apr 22, 2018
AI
David Gomez and Abe Cohen recently closed a deal in Brooklyn, New York. The multi-family property located at 230 President Street was sold for a total price of $4,600,000. The property spans across 9,500 square feet, resulting in a price per square foot of $484. The transaction involved 12 units, with each unit having a price per unit of 383.
Summary of transaction details:
- Property Type: Multi Family
- Transaction Amount: $4,600,000
- Address: 230 President Street, Brooklyn, New York
- Market: Brooklyn
- Square Footage: 9,500 sf
- Price per Square Foot: $484
- Units: 12
- Price per Unit: $383
The buyer, Abe Cohen, was joined by Steve Davis and Steven Rosenberg in the purchase of the property. The seller of the property was Andrea Spanakos. The deal was facilitated by brokers David Gomez, Amnay Labou, and Scott Dweck from Fountain Realty Group.
Players
New York 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93