Updated Dec 20, 2023
IPRG Sells 6-Unit Multifamily Property In Bushwick, Brooklyn For $3.05M
24 Harman Street, Brooklyn, New York 11221, United States
$3,050,000
$709/SF
Building Size
4,300 SF
Asset Type
MultiFamily
Closing
May 12, 2022
About this deal
AI
Located at 24 Harman St in Bushwick, Brooklyn, this multifamily property was recently sold. The transaction took place on May 13, 2022, with a sale price of $3,050,000. The property consists of 6 units, with an approximate price per unit of $508,333. The total square footage of the property is 4,300, resulting in a price per square foot of $709.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,050,000
- Units: 6
- Price per Unit: $508,333
- Square Footage: 4,300
- Price per Square Foot: $709
The sellers were represented by Derek Bestreich, Luke Sproviero, Steve Reynolds, Tom Reynolds, Brian Davila, and Sean Mashihi from Investment Property Realty Group (IPRG). They played a pivotal role in facilitating the transaction, ensuring a successful sale for the property.
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
5.20%
Cash-on-Cash
-1.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93