Updated Dec 21, 2023
Keith Arthur Acquires Multifamily Property In Fort Greene From Stephen R Larocca
254 Cumberland Street, Brooklyn, New York 11205, United States
$3,100,000
$854/SF
Building Size
3,630 SF
Asset Type
MultiFamily
Closing
Oct 7, 2021
About this deal
AI
The multifamily property located at 254 Cumberland Street in Fort Greene has been sold. The transaction took place on October 8, 2021, with Keith Arthur purchasing the property from Stephen R Larocca for a total price of $3,100,000. The property has a building square footage (BSF) of 4,400, resulting in a price per BSF (PPBSF) of $704. The total lot size is 2,200 square feet, with dimensions of 22 feet by 100 feet. The property is zoned as R6B, and its floor area ratio (FAR) is 1.65. The tax classification of the property is 2B.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,100,000
- Address: 254 Cumberland Street
- Market: Fort Greene
- Zoning: R6B
- Buyer: Keith Arthur
- Seller: Stephen R Larocca
- BSF: 4,400
- PPBSF: $704
- FAR: 1.65
- Tax Class: 2B
- Lot Size: 2,200
- Lot Dimension: 22 ft x 100 ft
Keith Arthur represented himself in the deal, while Stephen R Larocca was represented by his own broker. Further details about the transaction were not provided.
Players
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Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93