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308 Hicks Street

Gary Blond Acquires Multifamily Property In Brooklyn Heights For $6.2M
SOLDMultiFamily

Gary Blond Acquires Multifamily Property In Brooklyn Heights For $6.2M

308 Hicks Street

$6,200,000

Building Size

Asset Type

MultiFamily

Closing

Jan 31, 2024

AI

A nine-unit residential walkup building located at 308 Hicks Street in Brooklyn Heights, Brooklyn was sold for $6.2 million. The buyer, Gary Blond, acquired the property from the seller, Moshe Khoshkheraman.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,200,000
  • Units: 9
  • Price per Unit: $688,889
  • Address: 308 Hicks Street
  • Market: Brooklyn Heights, Brooklyn

Gary Blond, represented by entity 41 13 YC LLC, completed the purchase of the nine-unit residential walkup building at 308 Hicks Street in Brooklyn Heights, Brooklyn, from Moshe Khoshkheraman's entity 308 Hicks St LLC for $6.2 million. The transaction involved a total of 9 units with each unit priced at $688,889.

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

2.56%

Cash-on-Cash

-0.73%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93