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343 22nd Street

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

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

343 22nd Street

$1,950,000

$570/SF

Building Size

3,420 SF

Asset Type

MultiFamily

Closing

Feb 16, 2024

AI

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 Setton

Sterling Property Group NY

Broker

$251.4M

vol

55 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

8.13%

Cash-on-Cash

-2.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93