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260 President Street

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

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

260 President Street

$6,100,000

$1,399/SF

Building Size

4,360 SF

Asset Type

MultiFamily

Closing

Oct 23, 2023

AI

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

Investment Property Realty Group (IPRG)

Broker

$602.2M

vol

141 deals

Broker
Samuel Kooris

Samuel Kooris

Alchemy Ventures

Seller

$61.8M

vol

7 deals

Seller

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.60%

Cash-on-Cash

-0.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93