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248 Palmetto Street, Brookl...

Unicorn Properties Group Acquires Multifamily Property In Bushwick, Brooklyn For $1.15M
SOLDMultiFamily

Unicorn Properties Group Acquires Multifamily Property In Bushwick, Brooklyn For $1.15M

248 Palmetto Street, Brooklyn, New York 11221, United States

$1,150,000

$319/SF

Building Size

3,600 SF

Asset Type

MultiFamily

Closing

Aug 9, 2022

AI

An multifamily property located at 248 Palmetto St. in Bushwick, Brooklyn has been sold for $1,150,000. The property consists of 3 units with a total square footage of 3,600. The price per unit is $383,333 and the price per square foot is $319.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,150,000
  • Date: 08/10/2022
  • Address: 248 Palmetto St.
  • Market: Bushwick, Brooklyn

The buyer of the property is Unicorn Properties Group, represented by Eric Carino & Enrico Ferri. The seller is Debbie Pastrana. Eric Carino can be contacted at the office number 718-725-1500, cell number 646-921-3377, or via email at [email protected].

Unicorn Properties Group is actively purchasing single and multi-unit properties in North-Brooklyn, North-Western Brooklyn, and Central Brooklyn (near Prospect Park). They are also interested in properties in Ridgewood, Queens and Uptown Manhattan. The buyer is specifically looking for free market residential units with a minimum of 20,000 buildable square feet for residential development.

Players

Eric Carino

Unicorn Properties Group

Buyer

$12.2M

vol

10 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

13.79%

Cash-on-Cash

-3.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93