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2522 Newkirk Avenue

Black Iris Capital Purchases Multifamily Property In Brooklyn For $1.55M With Brokers Squires Walsh Waggner Kolbus
SOLDMultiFamily

Black Iris Capital Purchases Multifamily Property In Brooklyn For $1.55M With Brokers Squires Walsh Waggner Kolbus

2522 Newkirk Avenue

$1,550,000

$98/SF

Building Size

15,800 SF

Asset Type

MultiFamily

Closing

Apr 3, 2025

AI

The property asset involved in this transaction is a multifamily building located at 2522 Newkirk Avenue in Brooklyn. The sale price for this asset was $1,550,000, encompassing a total of 15,800 square feet, resulting in a price per square foot of $98.

Summary of transaction details:

The deal involved key individuals and companies dedicated to the transaction process. Black Iris Capital acted as the buyer, while Jesse Sutton served as the seller. The brokerage services were provided by Jonathan Squires, Dylan Walsh, Craig Waggner, and Nick Kolbus from Cushman & Wakefield, representing the interests of the seller in this transaction.

Players

Craig Waggner

Cushman & Wakefield

Broker

$711M

vol

47 deals

Broker

Brooklyn 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

10.23%

Cash-on-Cash

-2.92%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93