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357 Carlton Avenue, Fort Gr...

Updated Dec 20, 2023

Colin Rusch Acquires Multifamily Property On Carlton Ave In Fort Greene For $2.7M
SOLDMultiFamily

Colin Rusch Acquires Multifamily Property On Carlton Ave In Fort Greene For $2.7M

357 Carlton Avenue, Fort Greene, Brooklyn, NY 11238, USA

$2,700,000

$1,015/SF

Building Size

2,660 SF

Asset Type

MultiFamily

Closing

Sep 13, 2021

About this deal

AI

Located at 357 Carlton Avenue in Fort Greene, this multifamily property was recently sold in a closed transaction. The property spans 2,660 square feet and features two units. The sale price for this property was $2,700,000, resulting in a per square foot price of $1,015. The buyer of the property was Colin Rusch, while the seller was Levy Sagie. The transaction was facilitated by broker Nina Sabag from 5 Boro Realty.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,700,000
  • Address: 357 Carlton Avenue
  • Market: Fort Greene
  • Buyer: Colin Rusch
  • Seller: Levy Sagie
  • Broker: Nina Sabag - 5 Boro Realty
  • Square Footage: 2,660
  • Price Per Square Foot: $1,015
  • Units: 2
  • Previous Sale Price: $1,575,000 (11/2020)

This transaction marks a significant increase in the value of the property since its last sale in November 2020 for $1,575,000. The sale of this multifamily property showcases the continuous growth and demand for real estate in the Fort Greene market.

Players

Nina Sabag

5 Boro Realty

Broker

$40.3M

vol

22 deals

Broker

Colin Rusch

Buyer

$6.7M

vol

2 deals

Buyer

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $1K per square foot on a published $2.7M for 2,660 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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