Carlos Saavedra Acquires Multifamily Property On 285 Pacific Street For $3.85M
285 Pacific Street
$3,850,000
$1,013/SF
Building Size
3,800 SF
Asset Type
MultiFamily
Closing
May 20, 2024
AI
The multifamily property located at 285 Pacific Street in Cobble Hill was recently sold for $3,850,000. The property consists of 4 units with a total square footage of 3,800, resulting in a price per unit of $962,500 and a price per square foot of $1,013.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,850,000
- Address: 285 Pacific Street
- Market: Cobble Hill
- Units: 4
- Square Footage: 3,800
- Price per Unit: $962,500
- Price per Square Foot: $1,013
- Buyer: Carlos Saavedra
- Brokers: Marcel Fridman - Barcel Group & Jed Klebanow - Douglas Elliman
Marcel Fridman from Barcel Group and Jed Klebanow from Douglas Elliman represented the buyer, Carlos Saavedra, in this transaction.
Players
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
4.12%
Cash-on-Cash
-1.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93