Bestreich Realty Group Sells Bushwick Multifamily Property For $5M With Buyer's Rep Ari Harkov - Brown Harris Stevens
306 Stockholm Street, Brooklyn, New York 11237, United States
$5,000,000
$836/SF
Building Size
5,975 SF
Asset Type
MultiFamily
Closing
Mar 30, 2022
AI
Located at 306 Stockholm St. in Bushwick, this multifamily property was recently sold for $5,000,000. With a total of 8 units, the price per unit comes to $625,000. The property spans across 5,970 square feet, resulting in a price per square foot of $837.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Units: 8
- Price per Unit: $625,000
- Square Footage: 5,970
- Price per Square Foot: $837
Ari Harkov of The Harkov Lewis Team at Brown Harris Stevens represented the buyer in this transaction. On the seller's side, Derek Bestreich, Luke Sproviero, Steve Reynolds, Tom Reynolds, Brian Davila, and Sean Mashihi, all from Bestreich Realty Group (BRG), were the representatives.
This sale is noted as an Affordable New York 421-a sale, as mentioned by @BRG_CRE.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93