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:
- Property Type: Multifamily
- Transaction Amount: $1,550,000
- Address: 2522 Newkirk Avenue
- Market: Brooklyn
- Square Footage: 15,800
- Price per Square Foot: $98
- Buyer: Black Iris Capital
- Seller: Jesse Sutton
- Brokers: Jonathan Squires, Dylan Walsh, Craig Waggner & Nick Kolbus - Cushman & Wakefield
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
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