Black Iris Capital Purchases Multifamily Property In Brooklyn For $1.55M With Brokers Squires Walsh Waggner Kolbus
SOLD
$1,550,000
+ 1
New York
See Similar DealsMultiFamily15,800 SF
Sold 04/03/2025
SOLD
Black Iris Capital Purchases Multifamily Property In Brooklyn For $1.55M With Brokers Squires Walsh Waggner Kolbus
2522 Newkirk Avenue
See Similar DealsMultiFamily15,800 SF
Sold 04/03/2025
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$98
Total Square Footage:15,800 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$82,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,506.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,347.79
Annual Debt Service$88,173.49
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