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321 Stanhope Street

Cohabs Acquires Multifamily Property On Stanhope Street From Luis Rodrigez
SOLDMultiFamily

Cohabs Acquires Multifamily Property On Stanhope Street From Luis Rodrigez

321 Stanhope Street

$1,650,000

$500/SF

Building Size

3,300 SF

Asset Type

MultiFamily

Closing

May 23, 2024

AI

The multifamily property located at 321 Stanhope Street in Bushwick, Brooklyn was sold for $1,650,000. The property consists of 3 units with a total square footage of 3,300. The price per unit was $550,000, and the price per square foot was $500.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,650,000
  • Units: 3
  • Square Footage: 3,300
  • Price Per Unit: $550,000
  • Price Per Square Foot: $500
  • Address: 321 Stanhope Street, Bushwick, Brooklyn
  • Buyer: Cohabs @Cohabs
  • Seller: Luis Rodrigez
  • Broker: Peter Matheos & Isaiah Thomas - Matheos Realty Group

The successful sale was facilitated by the Matheos Realty Group, with Peter Matheos & Isaiah Thomas representing the parties involved. A note of gratitude was expressed to @rosariolawgroup for their assistance in finalizing the transaction.

Players

Isaiah Thomas

Matheos Realty Group

Broker

$76.9M

vol

17 deals

Broker

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

9.61%

Cash-on-Cash

-2.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93