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

Property Image
SOLD
$1,462,500
Michael (Mike) Salvatico
Shaun Riney
+ 1

New York

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MultiFamily4,500 SF
Sold 12/21/2021
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Property Image
SOLD

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

257 Himrod Street, Brooklyn, NY 11237

See Similar Deals
MultiFamily4,500 SF
Sold 12/21/2021
Michael (Mike) Salvatico
Shaun Riney
+ 1
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$325
Total Square Footage:4,500 SF
Transaction Type:Sale

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 (Mike) Salvatico
173 deals$787M volume(718) 475-4358
BROKER

Shaun Riney
Marcus & Millichap
355 deals$1.8B volume(718) 475-4369
BROKER

Michael Kolbus
11 deals$30.1M volume(309) 258-7746
BROKER

Details

SOLD
IMAGE: Michael Kolbus, Shaun Riney & Mike Salvatico DATE: 12/21/2021 ADDRESS: 257 Himrod Street MARKET: Bushwick ASSET TYPE: Multifamily ~ ZONING: R6 BUYER: The Altberg Family BROKERS: Shaun Riney (@ShaunRiney1), Mike Salvatico (@MikeSalvatico) & Michael Kolbus (@MichaelKolbus_Nym) - Marcus & Millichap SALE PRICE: $1,462,500 SF: 4,500 ~ PPSF: $325 UNITS: 6 ~ PPU: $243,750 NOTE FROM BROKER: 257 Himrod Street is a 4,500 SF fully stabilized 6-unit property in Bushwick. In 2021, the NYM Group has sold 10+ stabilized properties in Bushwick. Please reach out to Shaun Riney (@shaunriney1), Mike Salvatico (@mikesalvatico), or Michael Kolbus (@michaelkolbus_nym) for the full deal story, similar properties for sale, or for an opinion of value your investment property.

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Deal Type
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$5,195.95
Cash-on-Cash Return-1.27%
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