Eckstrom NYC Acquires Multifamily Property In Brooklyn Heights For $8.1M
29 Willow Street
$8,100,000
$864/SF
Building Size
9,375 SF
Asset Type
MultiFamily
Closing
Jun 25, 2024
AI
The multifamily property located at 29 Willow Street in Brooklyn Heights was sold for $8,100,000. The property consists of 10 units with a total square footage of 9,375. The price per unit was $810,000, and the price per square foot was $864.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,100,000
- Address: 29 Willow Street
- Market: Brooklyn Heights
- Buyer: Eckstrom NYC
- Seller: Sheeran Family
- Broker: Robert Ferman - Newmark
Robert Ferman, who was previously with Marcus and Millichap, played a key role in this transaction by bringing together both the seller and the buyer for the deal.
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
1.96%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93