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27 Grace Court, Brooklyn, N...

Updated Dec 20, 2023

Martin Joseph Acquires 27 Grace Court In Brooklyn Heights For $4.5M
SOLDMultiFamily

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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Deal FAQ

About $508 per square foot on a published $4.5M for 8,843 square feet (2022).

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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

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