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264 Jefferson St, Brooklyn,...

Melissa Luse - Tiger Property Partners Acquires Multifamily Property In Bushwick, Brooklyn For $1.05M
SOLDMultiFamily

Melissa Luse - Tiger Property Partners Acquires Multifamily Property In Bushwick, Brooklyn For $1.05M

264 Jefferson St, Brooklyn, NY 11237, USA

$1,050,000

$244/SF

Building Size

4,290 SF

Asset Type

MultiFamily

Closing

Oct 15, 2019

AI

The multifamily property located at 264 Jefferson Street in Bushwick, Brooklyn has been sold. The property consists of 6 units with a total square footage of 4,290. The sale price for the property was $1,050,000, resulting in a price per square foot of $244. The buyer of the property was Melissa Luse from Tiger Property Partners. The seller was the Estate of Frank Prestigiacomo. Bestreich Realty Group, represented by Steve Reynolds, Derek Bestreich, and Brian Davila, facilitated the transaction.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,050,000
  • Square Footage: 4,290
  • Price per Square Foot: $244
  • Number of Units: 6
  • Buyer: Melissa Luse – Tiger Property Partners
  • Seller: Estate of Frank Prestigiacomo
  • Brokers: Bestreich Realty Group – Steve Reynolds, Derek Bestreich, Brian Davila

The deal was facilitated by Bestreich Realty Group, whose representatives Steve Reynolds, Derek Bestreich, and Brian Davila played a key role in the transaction. This successful transaction showcases their expertise and the trust placed in them by both the buyer, Melissa Luse, and the seller, the Estate of Frank Prestigiacomo.

Players

Brian Davila

Investment Property Realty Group (IPRG)

Broker

$283.4M

vol

108 deals

Broker

Melissa Luse

Tiger Property Partners

Buyer

$3.3M

vol

2 deals

Buyer

New York 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

15.11%

Cash-on-Cash

-4.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93