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283 President Street, Brook...

Carlos Saavedra Acquires Multifamily Property In Carroll Gardens, Brooklyn For $3.9M
SOLDMultiFamily

Carlos Saavedra Acquires Multifamily Property In Carroll Gardens, Brooklyn For $3.9M

283 President Street, Brooklyn, New York 11231, United States

$3,925,000

$984/SF

Building Size

3,989 SF

Asset Type

MultiFamily

Closing

Jul 14, 2022

AI

The multi-family property located at 283 President Street in Carroll Gardens, Brooklyn has been sold. The property is zoned as R6B, with a lot size of 2,025 square feet. The building has a total square footage of 3,989 and a building square footage of 4,050. The sale took place on July 15, 2022, with a selling price of $3,925,000. The price per square foot is $983, and the price per building square foot is $969. The previous sale of the property occurred on May 4, 2022, for a price of $2,800,000. An alteration permit was issued on June 28, 2022. The lot dimensions are 20.25 ft x 100 ft, and the property falls under tax class 1.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,925,000
  • Zoning: R6B
  • Lot Size: 2,025 sq ft
  • Square Footage: 3,989 sq ft
  • Building Square Footage: 4,050 sq ft
  • Price per Square Foot: $983
  • Price per Building Square Foot: $969
  • Last Sale Price: $2,800,000 (5/4/2022)
  • Permits: Alteration (06/28/2022)
  • Lot Dimensions: 20.25 ft x 100 ft
  • Tax Class: 1

Carlos Saavedra purchased the property from Vincenzo Ruggiero. The transaction was facilitated by Carlos Saavedra's representative from an undisclosed agency.

Players

Carlos Saavedra

Eckstrom NYC

Broker

$108.4M

vol

20 deals

Broker
Carlos Saavedra

Carlos Saavedra

Buyer

$108.4M

vol

20 deals

Buyer

New York 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

4.04%

Cash-on-Cash

-1.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93