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