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280 Suydam St Brooklyn, NY ...

Greg Fournier Of Greenbrook Properties Acquires 6-Unit Multifamily Property In Bushwick, Brooklyn For $2.2M
SOLDMultiFamily

Greg Fournier Of Greenbrook Properties Acquires 6-Unit Multifamily Property In Bushwick, Brooklyn For $2.2M

280 Suydam St Brooklyn, NY 11237, USA

$2,200,000

$419/SF

Building Size

5,250 SF

Asset Type

MultiFamily

Closing

Aug 14, 2023

AI

The multifamily property located at 280 Suydam Street in Bushwick, Brooklyn has been sold for a total price of $2,200,000. The property consists of six units, with an average price per unit of $366,667. The total square footage of the property is 5,250, resulting in a price per square foot of $419.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,200,000
  • Address: 280 Suydam Street, Bushwick, Brooklyn
  • Market: Bushwick, Brooklyn
  • Buyer: Greg Fournier - Greenbrook Properties
  • Seller: Erlich Family
  • Broker: Marcel Fridman - Barcel Group
  • Units: 6
  • Square Footage: 5,250

Greg Fournier of Greenbrook Properties acted as the buyer in this transaction. The seller was the Erlich Family. Marcel Fridman, representing Barcel Group, served as the broker in the deal.

Players

Marcel Fridman

Barcel Group

Broker

$451.5M

vol

141 deals

Broker

Greg Fournier

Greenbrook Properties

Buyer

$607.1M

vol

19 deals

Buyer

Erlich Family

Seller

$8.9M

vol

3 deals

Seller

Brooklyn 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

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93