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Martense Realty LLC Acquires Multifamily Property In East Flatbush For $5.2M
SOLD
$5,200,000
New York
See Similar DealsMultiFamily21,840 SF
Sold 04/24/2024
SOLD
Martense Realty LLC Acquires Multifamily Property In East Flatbush For $5.2M
305 Martense Street
See Similar DealsMultiFamily21,840 SF
Sold 04/24/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$238
Total Square Footage:21,840 SF
Transaction Type:Sale
Martense Realty LLC purchased the 28-unit residential walkup building at 305 Martense Street in East Flatbush, Brooklyn, from Raphael Toledano for $5.2 million. The property spans 21,840 square feet and was sold at a price of $238 per square foot.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,200,000
- Address: 305 Martense Street
- Market: East Flatbush, Brooklyn
The buyer, Marc A. Winston, represented Martense Realty LLC in the transaction. The seller was Raphael Toledano. Marc A. Winston was the purchasing entity in this deal.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$277,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
Annual Debt Service$295,807.83
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