Shimon Weber Acquires Multifamily In Bed-Stuy, Brooklyn For $1.075M
305 Tompkins Avenue
$1,075,000
$158/SF
Building Size
6,800 SF
Asset Type
MultiFamily
Closing
Feb 20, 2024
AI
The multifamily property located at 305 Tompkins Avenue in Bed-Stuy, Brooklyn, was sold for $1,075,000. The property comprises 9 units with a total square footage of 6,800. The price per unit stood at $119,444, and the price per square foot was $158.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $1,075,000
- Units: 9
- Square Footage: 6,800
- Price Per Unit: $119,444
- Price Per Square Foot: $158
- Address: 305 Tompkins Avenue
- Market: Bed-Stuy, Brooklyn
Shimon Weber purchased the property from Zeneida Baez. Derek Bestreich, Steve Reynolds, Tom Reynolds, Brian Davila, and Noah Middlekauff of Investment Property Realty Group (IPRG) represented both parties in the transaction.
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
14.76%
Cash-on-Cash
-4.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93