Stein Family Acquires Multifamily Property In Bedford-Stuyvesant For $2.95M
SOLD
$2,950,000
New York
See Similar DealsMultiFamily6,500 SF
Sold 05/17/2022
SOLD
Stein Family Acquires Multifamily Property In Bedford-Stuyvesant For $2.95M
334 Chauncey Street, Brooklyn, New York 11233, United States
See Similar DealsMultiFamily6,500 SF
Sold 05/17/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$453
Total Square Footage:6,500 SF
Transaction Type:Sale
The multifamily property located at 334 Chauncey St. in Bedford-Stuyvesant has been sold for $2,950,000. The property spans approximately 6,500 square feet, resulting in a price per square foot of $453. The transaction took place on May 17, 2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $2,950,000
- Address: 334 Chauncey St.
- Market: Bedford-Stuyvesant
- Buyer: Stein Family
- Seller: Deergrow
- Broker: Marcel Fridman - Barcel Group
The buyer, Stein Family, acquired the property from the seller, Deergrow. The sale was facilitated by broker Marcel Fridman from the Barcel Group. The transaction marks a significant deal in the Bedford-Stuyvesant market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$157,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,480.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,984.51
Annual Debt Service$167,814.06
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