Updated Dec 4, 2024
MNB Developers Purchases Multifamily Property At 347a Quincy Street From Thierry Guizonne For $1.22M
347a Quincy Street
$1,220,000
$406/SF
Building Size
3,004 SF
Asset Type
MultiFamily
Closing
Oct 2, 2024
About this deal
AI
The property asset involved in this transaction is a multifamily building located at 347a Quincy Street in Bedford-Stuyvesant, Brooklyn. The sale price for the asset was $1,220,000, which consists of 2 units. The building has a total square footage of 3,004 and was sold at a price per square foot of $406.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,220,000
- Units: 2
- Square Footage: 3,004
- Price Per Unit: $610,000
- Price Per Square Foot: $406
- Buyer: MNB Developers
- Seller: Thierry Guizonne
- Broker: Roni Yaghoobzar - Safdie Realty Group
This transaction was facilitated by Roni Yaghoobzar of Safdie Realty Group, who successfully represented both the seller and the purchaser throughout the process.
On the Map
$1,220,000
$406/SF
MultiFamily
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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
13.00%
Cash-on-Cash
-3.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93