Carlos Saavedra Acquires Multifamily Property On 285 Pacific Street For $3.85M
SOLD
New York
See Similar DealsMultiFamily3,800 SF
Sold 05/20/2024
SOLD
Carlos Saavedra Acquires Multifamily Property On 285 Pacific Street For $3.85M
285 Pacific Street
See Similar DealsMultiFamily3,800 SF
Sold 05/20/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,013
Total Square Footage:3,800 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$205,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,678.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,250.96
Annual Debt Service$219,011.57
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