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
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.
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New York 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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93