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297 President Street, Brook...

Updated Oct 28, 2024

Carlos Saavedra Acquires Multifamily Property In Carroll Gardens, Brooklyn For $3.3M
SOLDMultiFamily

Carlos Saavedra Acquires Multifamily Property In Carroll Gardens, Brooklyn For $3.3M

297 President Street, Brooklyn, NY, USA

$3,300,000

$749/SF

Building Size

4,404 SF

Asset Type

MultiFamily

Closing

May 13, 2021

About this deal

AI

The multifamily property located at 297 President Street in Carroll Gardens, Brooklyn, was recently sold for $3,300,000. The property spans 4,404 square feet, resulting in a price per square foot of $749. The sale took place on 05/14/2021 and involved the following parties:

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,300,000
  • Address: 297 President Street
  • Market: Carroll Gardens, Brooklyn

Carlos Saavedra, represented by EckstromNYC, acted as the buyer in the transaction. The seller was the Falcone Family. The deal was facilitated by Derek Besteich, Adam Lobel, and Daniel Shawah, who are affiliated with Bestreich Realty Group.

Players

Adam Lobel

Investment Property Realty Group (IPRG)

Broker

$628.5M

vol

147 deals

Broker
Carlos Saavedra

Carlos Saavedra

Eckstrom NYC

Buyer

$119.5M

vol

22 deals

Buyer

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $749 per square foot on a published $3.3M for 4,404 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.81%

Cash-on-Cash

-1.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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