Ibrahim Mustafa Acquires Multi-Family Property In Brooklyn For $4.35M
270 E 2nd St, Brooklyn, NY 11218, USA
Building Size
9,900 SF
Asset Type
MultiFamily
Closing
Jan 29, 2018
AI
The multi-family property located at 270-274 East 2nd Street in Brooklyn, New York has been sold in a closed transaction for $4,350,000. The property spans across 9,900 square feet with an average price per square foot of $465. This property consists of 12 units, offering a lucrative investment opportunity.
Summary of transaction details
- Property Type: Multi Family
- Transaction Amount: $4,350,000
- Square Footage: 9,900 sf
- Price Per Square Foot: $465
- Address: 270-274 East 2nd Street, Brooklyn, New York
Sugar Hill Capital Partners, represented by Alex Friedman, acted as the seller in this transaction. Ibrahim Mustafa served as the buyer. The deal was facilitated by BRG | Bestreich Realty Group, with Derek Bestreich, Erik Rodriguez, Luke Sproviero, and Alex Friedman as the brokers involved.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93