Updated Dec 19, 2023
Abraham Ali Acquires Multifamily Property In Bushwick For $1.5M
354 Knickerbocker Ave, Bushwick, Brooklyn, NY, USA
$1,467,000
$279/SF
Building Size
5,250 SF
Asset Type
MultiFamily
Closing
Feb 24, 2021
About this deal
AI
The multifamily property located at 354 Knickerbocker Ave in Bushwick was recently sold for a price of $1,467,000. The property is zoned as R6 for residential use and C1-3 for commercial use. It has a building square footage (BSF) of 6,075 with a price per BSF (PPBSF) of $241. The total square footage (SF) of the property is 5,250, with a price per SF (PPSF) of $279. The sale transaction took place on February 25, 2021, and the capitalization rate (CAP) for this investment is 5.8%.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,467,000
- Address: 354 Knickerbocker Ave
- Market: Bushwick
- Asset Type: Multifamily
- Zoning: R6, C1-3
The buyer in this transaction was Abraham Ali, while the seller was Ethan Hassoun. The deal was facilitated by brokers Jonathan Codorniu and Said Boukhalfa.
On the Map
$1,467,000
$279/SF
MultiFamily
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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
10.81%
Cash-on-Cash
-3.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93