Updated Dec 20, 2023
Martin Joseph Acquires 27 Grace Court In Brooklyn Heights For $4.5M
27 Grace Court, Brooklyn, New York 11201, United States
$4,500,000
$508/SF
Building Size
8,843 SF
Asset Type
MultiFamily
Closing
Mar 20, 2022
About this deal
AI
The apartment located at 27 Grace Court in Brooklyn Heights, Brooklyn was recently sold in a transaction on March 21, 2022. The property is zoned as R6 and spans a total area of 8,843 square feet. The sale price for the apartment was $4,500,000, resulting in a price per square foot of $508.88. The lot size of the property is 2,250 square feet, with dimensions of 25 feet by 90 feet.
Summary of transation details
- Property Type: Apartment
- Transaction Amount: $4,500,000
- Market: Brooklyn Heights, Brooklyn
- Buyer: Martin Joseph
- Seller: Michael N. Connors & John Ersek
- Square Footage: 8,843
- Price per Square Foot: $508.88
- Lot Size: 2,250 square feet
- Lot Dimensions: 25 ft x 90 ft
Martin Joseph was the buyer of the property, while Michael N. Connors and John Ersek were the sellers. The transaction involved a significant amount of $4,500,000 for the apartment. The deal represents a successful transaction in the Brooklyn Heights market, highlighting the active real estate market in the area.
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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93