Updated Feb 10, 2025
Isaac Naftlin Purchases Multifamily Property From Vidia George In Brooklyn For $5.6M
346 Montgomery Street
$5,600,000
$291/SF
Building Size
19,192 SF
Asset Type
MultiFamily
Closing
Feb 5, 2025
About this deal
AI
The property involved in this transaction is a multifamily asset located at 346 Montgomery Street in Brooklyn. It features a sale price of $5,600,000, with a total of 24 units. The square footage of the building measures 19,192, resulting in a price per usable unit of $233,333 and a price per square foot of $291.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,600,000
- Units: 24
- Square Footage: 19,192
- Price Per Unit: $233,333
- Price Per Square Foot: $291
- Buyer: Isaac Naftlin
- Seller: Vidia George
- Brokers: Matthew Scott & Curtis Quow - Serhant
- Date of Transaction: 02/05/2025
This transaction involved both Matthew Scott and Curtis Quow, who represented both the buyer and the seller. The deal was conducted off-market, and the brokers have additional off-market inventory available for interested investors. They can be contacted for further details.
Brooklyn MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.83%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93