Menachem Brody Acquires Multifamily Property In Crown Heights From Rasheed Bey
SOLD
$1,550,000
New York
See Similar DealsMultiFamily3,600 SF
Sold 06/16/2022
SOLD
Menachem Brody Acquires Multifamily Property In Crown Heights From Rasheed Bey
259 New York Avenue, Brooklyn, New York 11216, United States
See Similar DealsMultiFamily3,600 SF
Sold 06/16/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$430
Total Square Footage:3,600 SF
Transaction Type:Sale
The property asset involved in this closed transaction is a multifamily property located at 259 New York Ave in Crown Heights. The property spans 3,600 square feet and was sold for a price of $1,550,000, resulting in a price per square foot of $430.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,550,000
- Address: 259 New York Ave
- Market: Crown Heights
- Buyer: Menachem Brody
- Seller: Rasheed Bey
- Brokers: Matt Cosentino & Isaiah Thomas - TerraCRG
The transaction took place on 06/16/2022, with the property being purchased by Menachem Brody from the seller, Rasheed Bey. The deal was facilitated by brokers Matt Cosentino and Isaiah Thomas, who represented the parties involved in this transaction on behalf of TerraCRG.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$82,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,506.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,347.79
Annual Debt Service$88,173.49
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