Bhuyain Family Acquires 20-Unit Multifamily In Flatbush For $2.2M
SOLD
$2,200,000
+ 1
New York
See Similar DealsMultiFamily16,400 SF
Sold 05/15/2023
SOLD
Bhuyain Family Acquires 20-Unit Multifamily In Flatbush For $2.2M
2817 Foster Ave Brooklyn, NY 11210, USA
See Similar DealsMultiFamily16,400 SF
Sold 05/15/2023
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$134
Total Square Footage:16,400 SF
Transaction Type:Sale
The multifamily property located at 2817 Foster Avenue in the Flatbush market has been sold in a closed transaction. The property consists of 20 units with a total square footage of 16,400. The sale price for this transaction was $2,200,000, resulting in a per unit price of $110,000. The price per square foot was calculated to be $134.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,200,000
- Units: 20
- Price per Unit: $110,000
- Square Footage: 16,400
- Price per Square Foot: $134
- Address: 2817 Foster Avenue
- Market: Flatbush
The buyer of the property is the Bhuyain Family, while the seller is the Williams Family. The deal was facilitated by Marcel Fridman of Barcel Group and Gabriel Kates and Sean Mashihi of Block Real Estate Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$117,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,816.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,429.12
Annual Debt Service$125,149.47
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