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359 Adelphi Street, Brookly...

Updated Dec 22, 2023

Hamid Khalique Acquires Multifamily Property In Fort Greene, Brooklyn For $3.25M
SOLDMultiFamily

Hamid Khalique Acquires Multifamily Property In Fort Greene, Brooklyn For $3.25M

359 Adelphi Street, Brooklyn, New York 11238, United States

$3,250,000

$901/SF

Building Size

3,604 SF

Asset Type

MultiFamily

Closing

Aug 11, 2022

About this deal

AI

The multifamily property located at 359 Adelphi Street in Fort Greene, Brooklyn has been sold. The transaction took place on August 12, 2022, with a sale price of $3,250,000. The property has a building square footage (BSF) of 4,166, resulting in a price per BSF of $1,065. The total lot size is 2,083 square feet, with dimensions of 20.83 ft x 100 ft.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,250,000
  • Market: Fort Greene, Brooklyn
  • Zoning: R6B
  • Buyer: Hamid Khalique
  • Seller: Chrystal R Howard
  • BSF: 4,166
  • PPBSF: $1,065
  • SF: 3,604
  • PPSF: $901
  • FAR: 1.73
  • Tax Class: 1
  • Lot Size: 2,083
  • Lot Dimension: 20.83 ft x 100 ft

Hamid Khalique served as the buyer in this transaction, while Chrystal R Howard acted as the seller. The property, with its desirable characteristics and prime location in Fort Greene, Brooklyn, attracted a sale price of $3,250,000. The transaction represents a significant investment opportunity in the multifamily market.

Players

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $901 per square foot on a published $3.3M for 3,604 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.88%

Cash-on-Cash

-1.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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