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Melissa Luse Acquires Multifamily Property In Bushwick, Brooklyn For $2.2M

Property Image
SOLD
$2,200,000
Matthew (Matt) Cosentino
Fred Bijou
+ 4

New York

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MultiFamily4,500 SF
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Property Image
SOLD

Melissa Luse Acquires Multifamily Property In Bushwick, Brooklyn For $2.2M

247 Himrod Street, Bushwick, Brooklyn, NY, USA

See Similar Deals
MultiFamily4,500 SF
Sold
Matthew (Matt) Cosentino
Fred Bijou
+ 4
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$488
Total Square Footage:4500 SF
Transaction Type:Sale

A multifamily property located at 247 Himrod Street in Bushwick, Brooklyn was recently sold for $2,200,000. The property spans 4,500 square feet, resulting in a price per square foot of $488.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,200,000
  • Address: 247 Himrod Street, Bushwick, Brooklyn
  • Market: Bushwick, Brooklyn
  • Seller: David Gerstel
  • Buyer: Melissa Luse - Tiger Property Partners
  • Seller's Representative: Matt Cosentino, Fred Bijou, Damhi Shaw & Eddie Laboz from TerraCRG
  • Buyer's Representative: Taylor Cohen from Native Real Estate & Eric Satanovsky from CA Realty Inc

The sale of this multifamily property was facilitated by TerraCRG's team including Matt Cosentino, Fred Bijou, Damhi Shaw, and Eddie Laboz. Representing the buyer was Taylor Cohen from Native Real Estate and Eric Satanovsky, who is now the Director of Acquisitions at CA Realty Inc. Previously, Eric was with TerraCRG.

Players

Damhi Shaw
3 deals$6.3M volume
BROKER

Eddie Laboz
Terra CRG
7 deals$16.8M volume
BROKER

Fred Bijou
Bijou Equities
32 deals$94.2M volume(917) 626-8413
BROKER

Eric Satanovsky
Commercial Acquisitions
9 deals$6.9M volume
BROKER

Matthew (Matt) Cosentino
Terra CRG
81 deals$319M volume
BROKER

Taylor Cohen
2 deals$5.1M volume
BROKER

Details

SOLD
IMAGE: Damhi Shaw, Fred Bijou, Eddie Laboz & Matt Cosentino DATE: 01/08/2019 ADDRESS: 247 Himrod Street MARKET: Bushwick, Brooklyn ASSET TYPE: Multifamily SELLER: David Gerstel BUYER: Melissa Luse - Tiger Property Partners SELLER’S REP: Matt Cosentino, Fred Bijou, Damhi Shaw & Eddie Laboz @TerraCRG BUYER’S REP: Taylor Cohen - Native Real Estate & Eric Satanovsky (Previously TerraCRG, now Director of acquisitions @CARealtyInc) @carealtyinc @el_stuff PRICE: $2,200,000 SF: 4,500  ~ PPSF: $488

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$7,816.15
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