Canvas Property Group Sells Multifamily Asset At 286 5th Avenue Brooklyn For $9M
SOLD
$9,000,000
New York
See Similar DealsMultiFamily11,137 SF
Sold 05/20/2025
SOLD
Canvas Property Group Sells Multifamily Asset At 286 5th Avenue Brooklyn For $9M
286 5th Avenue
See Similar DealsMultiFamily11,137 SF
Sold 05/20/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$808
Total Square Footage:11,137 SF
Transaction Type:Sale
The asset involved in the transaction is a multifamily property located at 286 5th Avenue, Brooklyn. The sale price was $9,000,000, with a total area of 11,137 square feet, equating to a price per square foot of $808.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,000,000
- Address: 286 5th Avenue
- Market: Brooklyn
- Seller: Canvas Property Group
- Brokers: Daniel O'Brien, Caroline Hodes & Henry Hill - Newmark
The transaction was facilitated by the brokerage team consisting of Daniel O'Brien, Caroline Hodes, and Henry Hill, representing the seller, Canvas Property Group, in this multifamily property sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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