Lang Family Acquires Multifamily Property In Crown Heights For $1.475M
255 Troy Avenue, Brooklyn, New York 11213, United States
$1,475,000
$447/SF
Building Size
3,300 SF
Asset Type
MultiFamily
Closing
Oct 2, 2022
AI
Located in the vibrant neighborhood of Crown Heights, the multifamily property at 255 Troy Ave has been sold in a recent transaction. This sale, facilitated by Marcel Fridman of Barcel Group, marks another successful deal in the area. The property features a total of 5 units, offering a spacious and comfortable living space for its residents. With a sale price of $1,475,000, this property presents a great investment opportunity in the Crown Heights market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,475,000
- Address: 255 Troy Ave
- Market: Crown Heights
- Units: 5
- Price per Unit: $295,000
- Square Footage: 3,300
- Price per Square Foot: $446
The Lang Family emerged as the buyer in this transaction, showcasing their interest in the vibrant Crown Heights market. On the other side of the deal, Alchemy, represented by Sam Kooris, acted as the seller. Marcel Fridman, from Barcel Group, played a vital role as the broker, ensuring a smooth transaction for both parties involved. With their expertise and knowledge of the market, Fridman and Barcel Group successfully facilitated this sale.
Players
New York 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
10.75%
Cash-on-Cash
-3.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93