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346 Montgomery Street

Updated Feb 10, 2025

Isaac Naftlin Purchases Multifamily Property From Vidia George In Brooklyn For $5.6M
SOLDMultiFamily

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.

Players

Matthew Scott

Serhant

Broker

$6.9M

vol

2 deals

Broker

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $291 per square foot on a published $5.6M for 19,192 square feet (2025).

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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

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