Partners Path Acquires Multifamily Property In Brooklyn For $5.08M
SOLD
$5,075,000
New York
See Similar DealsMultiFamily6,790 SF
Sold 04/28/2023
SOLD
Partners Path Acquires Multifamily Property In Brooklyn For $5.08M
277 Humboldt Street
See Similar DealsMultiFamily6,790 SF
Sold 04/28/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$747
Total Square Footage:6,790 SF
Transaction Type:Sale
The multifamily property located at 277 Humboldt Street in Brooklyn has been sold in a closed transaction. The property spans approximately 6,800 square feet and has 8 units. The sale price for the property was $5,075,000, resulting in an average price per square foot of $747, and a per unit price of $634,375.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,075,000
- Address: 277 Humboldt Street, Brooklyn
- Market: Brooklyn
Partners Path, represented by Michael Kalt, Alex Lebowitz, and Billy Haddad, acquired the property. The sellers were Eden Ashourzadeh and Alex Kahen. The transaction was facilitated by brokers Matthew Cosentino and Remi Norris from Terra CRG.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$270,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,030.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,058.09
Annual Debt Service$288,697.07
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