Cetinkaya Family Acquires Multifamily Property In Brooklyn For $3.3M
SOLD
$3,300,000
+ 1
New York
See Similar DealsMultiFamily3,999 SF
Sold 02/13/2023
SOLD
Cetinkaya Family Acquires Multifamily Property In Brooklyn For $3.3M
258 President Street
See Similar DealsMultiFamily3,999 SF
Sold 02/13/2023
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$825
Total Square Footage:3,999 SF
Transaction Type:Sale
The multifamily property located at 258 President Street in Brooklyn has been sold in a recent transaction. The property spans approximately 3,999 square feet and was sold for a price of $3,300,000, resulting in a price per square foot of $825. The sale of the property took place on February 13, 2023.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,300,000
- Address: 258 President Street, Brooklyn
- Market: Brooklyn
- Buyer: Cetinkaya Family
- Seller: Nicosia Family
- Brokers: Shaun Riney, Michael (Mike) Salvatico, Robert Ferman - Marcus & Millichap
The deal was facilitated by the brokers Shaun Riney, Michael (Mike) Salvatico, and Robert Ferman from Marcus & Millichap. They represented the buyer and seller in this transaction. The involvement of these individuals played a crucial role in the successful completion of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$175,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,724.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,643.68
Annual Debt Service$187,724.20
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