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326 Cornelia Street

Skyline Builders Sells Multifamily Property In Bushwick For $3.17M
SOLDMultiFamily

Skyline Builders Sells Multifamily Property In Bushwick For $3.17M

326 Cornelia Street

$3,167,550

$659/SF

Building Size

4,800 SF

Asset Type

MultiFamily

Closing

Aug 31, 2022

AI

The multifamily property located at 326 Cornelia St. in Bushwick has been sold in a recent transaction. The property spans 4,800 square feet and consists of 6 units. The sale was facilitated by Rich Velotta from Raven Property Advisors and Ari Harkov from The Harkov Lewis Team at Brown Harris Stevens. The property was sold by Skyline Builders, represented by Greg Coady, Nick Coady, and Nick Moer.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,167,550
  • Units: 6
  • Price Per Unit: $527,925
  • Square Footage: 4,800
  • Price Per Square Foot: $659
  • Market: Bushwick

The sale of 326 Cornelia St. in Bushwick was finalized with a sale price of $3,167,550. The transaction was led by Rich Velotta from Raven Property Advisors and Ari Harkov from The Harkov Lewis Team at Brown Harris Stevens. It is noteworthy that Skyline Builders, represented by Greg Coady, Nick Coady, and Nick Moer, were the sellers in this deal.

Players

Richard Velotta

Raven Property Advisors

Broker

$409M

vol

30 deals

Broker

Greg Coady

Seller

$4.9M

vol

2 deals

Seller

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

5.01%

Cash-on-Cash

-1.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93