Updated Dec 21, 2023
Marcus & Millichap Broker, John Brennan, Facilitates $720K Sale Of Sunset Park Multifamily Property
343 56th St, Brooklyn, NY 11220, USA
$720,000
$13/SF
Building Size
55,080 SF
Asset Type
MultiFamily
Closing
Jan 22, 2020
About this deal
AI
A six-unit multifamily property located at 343 56th Street in Sunset Park, Brooklyn has been sold for a price of $720,000. The property spans across 5,508 square feet, equating to a price per square foot of $130. With a unit count of six, the price per unit stands at $120,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $720,000
- Square Footage: 5,508
- Price per Square Foot: $130
- Unit Count: 6
- Price per Unit: $120,000
- Market: Sunset Park, Brooklyn
Ella Almodovar acted as the seller in this transaction, while Donal Flaherty from Bestreich Realty Group (BRG) was the seller's representative. Representing the buyer was John Brennan from Marcus & Millichap. The deal was completed on January 23, 2020.
Players
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
22.03%
Cash-on-Cash
-6.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93