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232 Adelphi Street

Updated Dec 4, 2024

KSR Capital And VISABE Corp Acquire Multifamily Property In Fort Greene, Brooklyn For $12.1M
SOLDMultiFamily

KSR Capital And VISABE Corp Acquire Multifamily Property In Fort Greene, Brooklyn For $12.1M

232 Adelphi Street

$12,052,000

$669/SF

Building Size

18,000 SF

Asset Type

MultiFamily

Closing

Feb 2, 2024

About this deal

AI

The sale of a multifamily property located at 232 Adelphi Street in Fort Greene, Brooklyn has been finalized. The property consists of 12 units with a total square footage of 18,000. The sale price for this transaction was $12,052,000, resulting in an average price per unit of $1,004,333. The price per square foot was recorded at $670.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $12,052,000
  • Address: 232 Adelphi Street, Fort Greene, Brooklyn
  • Market: Fort Greene, Brooklyn
  • Buyer: KSR Capital - Ceasar Salama, Morris Sabbagh, Gregory Dweck & Jack Zalta; VISABE Corp - Alberto Cojab, Salomon Cojab & Victor Mougrabi
  • Seller: Beards Of Delaware
  • Brokers: Rich Velotta - Raven Property Advisors

The transaction was facilitated by Rich Velotta from Raven Property Advisors. KSR Capital, represented by Ceasar Salama, Morris Sabbagh, Gregory Dweck, and Jack Zalta, along with VISABE Corp, represented by Alberto Cojab, Salomon Cojab, and Victor Mougrabi, acquired the property from Beards Of Delaware for a total of $12,052,000. This deal marks a significant investment in the multifamily market of Fort Greene, Brooklyn.

On the Map

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$12,052,000

$669/SF

MultiFamily

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Players

Richard Velotta

Raven Property Advisors

Broker

$409M

vol

30 deals

Broker
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Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $669 per square foot on a published $12.1M for 18,000 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.32%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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