Updated Dec 20, 2023
Justin Musumeci Acquires Boerum Hill Multifamily From Hesky Brahimy
311 State Street, Boerum Hill, Brooklyn, NY, USA
$9,000,000
$1,761/SF
Building Size
5,110 SF
Asset Type
MultiFamily
Closing
Jan 8, 2021
About this deal
AI
A multifamily property located at 311 State Street in Boerum Hill has been sold in a recent transaction. The property is zoned as R6B and DB, with a total building square footage (BSF) of 3,916. The sale price for the property was $9,000,000, resulting in a price per BSF (PPBSF) of $2,298. With a total square footage (SF) of 5,110, the price per square foot (PPSF) comes to $1,761.
The multifamily sale at 311 State Street, Boerum Hill, Brooklyn, NY, USA in New York, New York sold for $9M in 2021. The building is 5,110 square feet, implying about 1.8K per square foot on the published price. Randy Baruh, Christine Calvo, Justin Musumeci, The Corcoran Group appear on the sale alongside The Corcoran Group. This page is the New York, New York file for the 311 State Street, Boerum Hill, Brooklyn, NY, USA multifamily sold: pricing, party profiles, and other closed multifamily comps from the same New York sit in the Market section below. Filter that New York multifamily set by closing date to see what else sold near 311 State Street, Boerum Hill, Brooklyn, NY, USA around 2021. Published consideration for 311 State Street, Boerum Hill, Brooklyn, NY, USA is $9M, dated 2021. Cite this Justin Musumeci Acquires Boerum Hill Multifamily From Hesky Brahimy sale when underwriting similar multifamily product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93