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Investment Property Realty Group Acquires Multifamily Property In Carroll Gardens For $6.1M

Property Image
SOLD
$6,100,000
Luke Sproviero
Adam Lobel
+ 3

New York

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MultiFamily4,360 SF
Sold 10/23/2023
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Property Image
SOLD

Investment Property Realty Group Acquires Multifamily Property In Carroll Gardens For $6.1M

260 President Street

See Similar Deals
MultiFamily4,360 SF
Sold 10/23/2023
Luke Sproviero
Adam Lobel
+ 3
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,399
Total Square Footage:4,360 SF
Transaction Type:Sale

The multifamily property located at 260 President Street in Carroll Gardens, Brooklyn has recently been sold for a total price of $6,100,000. The property consists of five units, with an average price per unit of $1,220,000. The total square footage of the property is 4,360, resulting in a price per square foot of $1,399.

Summary of transaction details

The deal was facilitated by Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, and Samantha Katz from Investment Property Realty Group (IPRG). The involvement of these brokers highlights their expertise and reputation in the industry.

Players

Adam Lobel
137 deals$583.5M volume(314) 920-8639
BROKER

Derek Bestreich
Investment Property Realty Group (IPRG)
312 deals$1.1B volume(718) 360-8802
BROKER

Luke Sproviero
Investment Property Realty Group (IPRG)
222 deals$848.7M volume
BROKER

Toby Waring
Investment Property Realty Group (IPRG)
89 deals$348.6M volume
BROKER

Samantha Katz
Investment Property Realty Group (IPRG)
17 deals$91.5M volume(718) 360-4834
BROKER

Samuel Kooris
Alchemy Ventures
7 deals$61.8M volume
SELLER

Details

SOLD
IMAGE: Derek Bestreich, Luke Sproviero, Adam Lobel & Toby Waring DATE: 10/23/2023 ADDRESS: 260 President Street MARKET: Carroll Gardens, Brooklyn ASSET TYPE: Multifamily SELLER: Samuel Kooris BROKERS: Derek Bestreich, Luke Sproviero (@LukeSproviero), Adam Lobel (@AdamLobelRealEstate), Toby Waring (@BklynBricks) & Samantha Katz - Investment Property Realty Group (IPRG) (@IPRG_NY) SALE PRICE: $6,100,000 UNITS: 5 ~ PPU: $1,220,000 SF: 4,360 ~ PPSF: $1,399

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$325,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$21,672.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,917.11
Annual Debt Service$347,005.34