Albert Srour Acquires Multifamily Property In Bay Ridge, Brooklyn For $13.5M
SOLD
$13,500,000
New York
See Similar DealsMultiFamily67,926 SF
Sold 08/10/2023
SOLD
Albert Srour Acquires Multifamily Property In Bay Ridge, Brooklyn For $13.5M
252 74th St Brooklyn, NY 11209, USA
See Similar DealsMultiFamily67,926 SF
Sold 08/10/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$198
Total Square Footage:67,926 SF
Transaction Type:Sale
The multifamily property located at 252 74th Street in Bay Ridge, Brooklyn has been sold for a total price of $13,500,000. The property consists of 66 units, with a price per unit of $204,545. The total square footage of the property is 67,926, resulting in a price per square foot of $199.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,500,000
- Units: 66
- Price per Unit: $204,545
- Square Footage: 67,926
- Price per Square Foot: $199
- Address: 252 74th Street, Bay Ridge, Brooklyn
- Buyer: Albert Srour
- Seller: Bronstein Properties
- Brokers: Shaun Riney & Mark Zarrella from Marcus & Millichap
The deal was facilitated by Shaun Riney and Mark Zarrella from Marcus & Millichap, who represented both the buyer, Albert Srour, and the seller, Bronstein Properties.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$720,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$47,962.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$63,996.89
Annual Debt Service$767,962.65
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