Updated Sep 9, 2024
Rachel Foster Sells Multifamily Property On Pierrepont Street In Brooklyn Heights For $4.2M
32 Pierrepont Street, Brooklyn, New York 11201, United States
$4,200,000
$664/SF
Building Size
6,320 SF
Asset Type
MultiFamily
Closing
Mar 17, 2022
About this deal
AI
A multifamily property located at 32 Pierrepont Street in Brooklyn Heights has been sold for $4,200,000. The property spans 6,310 square feet, resulting in a price per square foot of $665.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,200,000
- Address: 32 Pierrepont Street
- Market: Brooklyn Heights
The seller of the property is Rachel Foster. Representing the seller, Adam Hess and Edward Setton from Meridian Capital Group facilitated the sale.
It is worth noting that 9 out of the 10 units in the property were delivered vacant. The new owner plans to undertake substantial rehabilitation of the property.
Players
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
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93