Ariel Shalom Sells Multifamily Property In Brooklyn For $9.67M With Nick Hovsepian - Corcoran
SOLD
$9,670,000
New York
See Similar DealsMultiFamily8,582 SF
Sold 10/21/2021
SOLD
Ariel Shalom Sells Multifamily Property In Brooklyn For $9.67M With Nick Hovsepian - Corcoran
151 Quincy Street, Brooklyn, NY 11216
See Similar DealsMultiFamily8,582 SF
Sold 10/21/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,126
Total Square Footage:8,582 SF
Transaction Type:Sale
The multifamily property located at 151 Quincy Street in Brooklyn has been sold. The sale took place on 10/21/2021, with Ariel Shalom acting as the seller. Nick Hovsepian from Corcoran represented the seller in this transaction. The property boasts 10 units, with a sale price of $9,670,000. Each unit has an average price per unit (PPU) of $967,000. The total square footage of the property is 8,582, with a price per square foot (PPSF) of $1,126.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,670,000
- Address: 151 Quincy Street, Brooklyn
- Market: Brooklyn
- Seller: Ariel Shalom
- Broker: Nick Hovsepian - Corcoran
- Units: 10
- PPU: $967,000
- Square Footage: 8,582
- PPSF: $1,126
Nick Hovsepian from Corcoran played a key role as the seller's broker representative in the transaction, ensuring a successful sale of the multifamily property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$515,733.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,355.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,840.73
Annual Debt Service$550,088.80
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