Nager Family Acquires Bainbridge St. Multifamily In Brooklyn For $11.75M
SOLD
$11,750,000
New York
See Similar DealsMultiFamily14,848 SF
Sold 02/02/2021
SOLD
Nager Family Acquires Bainbridge St. Multifamily In Brooklyn For $11.75M
242 Bainbridge St, Brooklyn, NY, USA
See Similar DealsMultiFamily14,848 SF
Sold 02/02/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$791
Total Square Footage:14,848 SF
Transaction Type:Sale
A multifamily property located at 242, 244, 246, 248 Bainbridge St. in Brooklyn has been sold for $11,750,000. The property consists of 32 units and has a zoning designation of R6B. The transaction took place on February 2, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,750,000
- Address: 242, 244, 246, 248 Bainbridge St.
- Market: Brooklyn
- Zoning: R6B
- Units: 32
- Price per Unit: $367,187
The buyer of the property is the Nager Family, while the seller is Witnick Partners. The deal was facilitated by brokers Shlomo Antebi, Yosef Katz, and Erik Yankelovich from ARG_NYC.
Additional information and details about the transaction are not available.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$626,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,745.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,700.99
Annual Debt Service$668,411.93
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