Updated Dec 4, 2024
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
About this deal
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
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