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257 Himrod Street, Brooklyn...

The Altberg Family Acquires Multifamily Property In Bushwick For $1.46M
SOLDMultiFamily

The Altberg Family Acquires Multifamily Property In Bushwick For $1.46M

257 Himrod Street, Brooklyn, NY 11237

$1,462,500

$325/SF

Building Size

4,500 SF

Asset Type

MultiFamily

Closing

Dec 21, 2021

AI

257 Himrod Street is a 4,500 SF fully stabilized 6-unit property located in Bushwick. The property was sold on 12/21/2021 for a sale price of $1,462,500. The buyer of the property is The Altberg Family. The transaction was facilitated by Shaun Riney, Mike Salvatico, and Michael Kolbus from Marcus & Millichap. The property is classified as a Multifamily asset, with a zoning designation of R6. The market where the property is situated is Bushwick.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,462,500
  • Address: 257 Himrod Street
  • Market: Bushwick
  • Square Footage: 4,500 SF
  • Zoning: R6

In 2021, the NYM Group has sold over 10 stabilized properties in Bushwick. For more information about the deal, similar properties for sale, or an opinion of value on your investment property, interested parties can get in touch with Shaun Riney, Mike Salvatico, or Michael Kolbus.

Players

Michael Salvatico

Marcus & Millichap

Broker

$787M

vol

173 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker

Altberg Family

Buyer

$4M

vol

2 deals

Buyer

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

10.85%

Cash-on-Cash

-3.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93