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270 E 2nd St, Brooklyn, NY ...

Ibrahim Mustafa Acquires Multi-Family Property In Brooklyn For $4.35M
SOLDMultiFamily

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

Derek Bestreich

Investment Property Realty Group (IPRG)

Broker

$1.1B

vol

312 deals

Broker

Alex Friedman

Sugar Hill Capital Partners

Seller

$3M

vol

3 deals

Seller

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93