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Ari Harkov Of Brown Harris Stevens Acquires Multifamily In South Slope For $1.95M As Buyer's Rep

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SOLD
$1,950,000

New York

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MultiFamily3,420 SF
Sold 02/16/2024
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Property Image
SOLD

Ari Harkov Of Brown Harris Stevens Acquires Multifamily In South Slope For $1.95M As Buyer's Rep

343 22nd Street

See Similar Deals
MultiFamily3,420 SF
Sold 02/16/2024
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$570
Total Square Footage:3,420 SF
Transaction Type:Sale

The multifamily property located at 343 22nd Street in South Slope, Brooklyn, was sold for $1,950,000. The property comprises 3 units with a total area of 3,420 square feet, resulting in a price per unit of $650,000 and a price per square foot of $570.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,950,000
  • Units: 3
  • Square Footage: 3,420
  • Price Per Unit: $650,000
  • Price Per Square Foot: $570
  • Address: 343 22nd Street
  • Market: South Slope, Brooklyn
  • Seller's Rep: Adam J. Hess & Edward Setton - Meridian Capital Group
  • Buyer's Rep: Ari Harkov - Brown Harris Stevens

The sale of the multifamily property was facilitated by Adam J. Hess and Edward Setton from Meridian Capital Group representing the seller, while Ari Harkov from Brown Harris Stevens represented the buyer in the transaction.

Players

Edward (Eddie) Setton
55 deals$251.4M volume
BROKER

Adam J Hess
Sterling Property Group NY
57 deals$251.4M volume
BROKER

Ari Harkov
Brown Harris Stevens
86 deals$429.1M volume(212) 381-4246
BROKER

Details

SOLD
IMAGE: Ari Harkov, Adam J Hess & Edward Setton DATE: 02/16/2024 ADDRESS: 343 22nd Street MARKET: South Slope, Brooklyn ASSET TYPE: Multifamily SELLER'S REP: Adam J. Hess (@TeamHessBK) & Edward Setton - Meridian Capital Group (@Meridian.Capital.Group) BUYER'S REP: Ari Harkov (@AriHarkov) - Brown Harris Stevens (@HarkovLewisTeam) SALE PRICE: $1,950,000 UNITS: 3 ~ PPU: $650,000 SF: 3,420 ~ PPSF: $570

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$103,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,927.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,243.99
Annual Debt Service$110,927.94