Matt Fotis Of Marcus & Millichap Acquires Multifamily Property In Brooklyn Heights For $7.85M
SOLD
$7,850,000
New York
See Similar DealsMultiFamily16,500 SF
Sold 06/23/2020
SOLD
Matt Fotis Of Marcus & Millichap Acquires Multifamily Property In Brooklyn Heights For $7.85M
274 Henry Street, New York, NY 10038
See Similar DealsMultiFamily16,500 SF
Sold 06/23/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$475
Total Square Footage:16,500 SF
Transaction Type:Sale
A multifamily property located at 274 Henry Street and 90 State Street in Brooklyn Heights was recently sold for $7,850,000. The property spans approximately 16,500 square feet, resulting in a price per square foot (PPSF) of $475. The sale took place on June 23, 2021, and the transaction was facilitated by brokers Matt Fotis from Marcus & Millichap_NY and Sebastian Altilio.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,850,000
- Address: 274 Henry Street & 90 State Street, Brooklyn Heights
- Market: Brooklyn Heights
- Broker: Matt Fotis @MarcusMillichap_NY & Sebastian Altilio
Matt Fotis from Marcus & Millichap_NY and Sebastian Altilio played pivotal roles as brokers in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$418,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,889.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,213.00
Annual Debt Service$446,556.06
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