Updated Dec 22, 2023
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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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