Updated Sep 9, 2024
Menachem Brody Acquires Multifamily Property In Crown Heights From Rasheed Bey
259 New York Avenue, Brooklyn, New York 11216, United States
$1,550,000
$430/SF
Building Size
3,600 SF
Asset Type
MultiFamily
Closing
Jun 15, 2022
About this deal
AI
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.
Players
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
10.23%
Cash-on-Cash
-2.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93