Multifamily Property Sold In Brooklyn For $2.5M
SOLD
$2,500,000
New York
See Similar DealsMultiFamily1,960 SF
Sold 07/01/2024
SOLD
Multifamily Property Sold In Brooklyn For $2.5M
356 Leonard Street
See Similar DealsMultiFamily1,960 SF
Sold 07/01/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,275
Total Square Footage:1,960 SF
Transaction Type:Sale
The property asset is a multifamily building located at 356 Leonard Street in Brooklyn. The sale was finalized for a price of $2,500,000, consisting of 3 units, with a price per unit of $833,333. The total square footage of the building is 1,920, leading to a price per square foot of $1,302.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Units: 3
- Price per Unit: $833,333
- Square Footage: 1,920
- Price per Square Foot: $1,302
- Seller: Francis Bobe
- Broker: Zachi Koren - Greenhouse Advisors
- Date of Transaction: 07/01/2024
Zachi Koren from Greenhouse Advisors represented the broker in this transaction. Francis Bobe acted as the seller of the property during this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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