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259 Carlton Avenue, Fort Gr...

Updated Dec 19, 2023

Joseph E Gaybrick Acquires Multifamily Property On 259 Carlton Avenue In Fort Greene, Brooklyn For $4.07M
SOLDMultiFamily

Joseph E Gaybrick Acquires Multifamily Property On 259 Carlton Avenue In Fort Greene, Brooklyn For $4.07M

259 Carlton Avenue, Fort Greene, Brooklyn, NY, USA

$4,070,000

$1,005/SF

Building Size

4,048 SF

Asset Type

MultiFamily

Closing

May 6, 2021

About this deal

AI

The multifamily property located at 259 Carlton Avenue in Fort Greene, Brooklyn, was recently sold for $4,070,000. The property has a total square footage of 4,048, with a price per square foot of $1,005. The building has a total of 4,400 buildable square feet, resulting in a price per buildable square foot of $925. The lot size measures 2,222 square feet, with dimensions of 22 feet by 100 feet. The property falls under tax class 1 and has a floor area ratio (FAR) of 1.84. An alteration permit of type 2 was issued on July 27, 2000.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $4,070,000
  • Market: Fort Greene, Brooklyn
  • Address: 259 Carlton Avenue
  • Total Square Footage: 4,048
  • Price per Square Foot: $1,005
  • Buildable Square Feet (BSF): 4,400
  • Price per Buildable Square Foot (PPBSF): $925
  • Lot Size: 2,222 square feet
  • Lot Dimensions: 22 ft x 100 ft
  • Tax Class: 1
  • Floor Area Ratio (FAR): 1.84
  • Permit: Alteration type 2 (07/27/2000)

The buyer of the property is Joseph E Gaybrick, and the seller is John J Chinchar. Joseph E Gaybrick was represented by their broker, while John J Chinchar was not mentioned to have a representative in the deal.

Players

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $1K per square foot on a published $4.1M for 4,048 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.90%

Cash-on-Cash

-1.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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