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301 Van Brunt Street, Brook...

Updated Oct 28, 2024

Lee Cohen's Redhoek&Partners Acquires Multifamily Property In Red Hook For $1.23M
SOLDMultiFamily

Lee Cohen's Redhoek&Partners Acquires Multifamily Property In Red Hook For $1.23M

301 Van Brunt Street, Brooklyn, New York 11231, United States

$1,230,000

$473/SF

Building Size

2,600 SF

Asset Type

MultiFamily

Closing

May 9, 2022

About this deal

AI

The multifamily property located at 301 Van Brunt St. in Red Hook has been sold for a total of $1,230,000. The transaction took place on May 10, 2022. The property consists of 3 units with a total square footage of 2,600. The price per unit was $410,000, and the price per square foot was $473. The buyer, Lee Cohen from Redhoek+Partners, acquired the property from the Gutlerrez Estate. The sale was facilitated by Lisa Sulfaro, a representative from Corcoran Group.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,230,000
  • Address: 301 Van Brunt St.
  • Market: Red Hook

The transaction involved the buyer, Lee Cohen, and the seller, Gutlerrez Estate. Lee Cohen was represented by Lisa Sulfaro from Corcoran Group. The sale of this multifamily property in Red Hook demonstrates the active real estate market in the area and the continued interest in investment opportunities.

Players

Lisa Sulfaro

The Corcoran Group

Broker

$11.4M

vol

3 deals

Broker
Lee Cohen

Lee Cohen

Red Hoek +Partners

Buyer

$299M

vol

25 deals

Buyer

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $473 per square foot on a published $1.2M for 2,600 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

12.90%

Cash-on-Cash

-3.69%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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