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247 Himrod Street, Bushwick...

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

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

247 Himrod Street, Bushwick, Brooklyn, NY, USA

$2,200,000

$488/SF

Building Size

4,500 SF

Asset Type

MultiFamily

Closing

Jan 7, 2019

AI

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

Terra CRG

Broker

$6.3M

vol

3 deals

Broker

Melissa Luse

Tiger Property Partners

Buyer

$3.3M

vol

2 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

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93