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230 President St, Brooklyn,...

Abe Cohen, Steve Davis, And Steven Rosenberg Acquire Multi Family Property In Brooklyn For $4.6M
SOLDMultiFamily

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

Amnay Labou

Broker

1 deal

Broker
Abe Cohen

Abe Cohen

Conway Capital

Buyer

$106.9M

vol

19 deals

Buyer

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