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9 Willow Place, Brooklyn He...

Eckstrom NYC Acquires Multifamily Property In Brooklyn Heights For $7.5M
SOLDMultiFamily

Eckstrom NYC Acquires Multifamily Property In Brooklyn Heights For $7.5M

9 Willow Place, Brooklyn Heights, Brooklyn, NY, USA

$5,675,000

$1,659/SF

Building Size

3,420 SF

Asset Type

MultiFamily

Closing

Nov 16, 2021

AI

A multifamily property located at 36 Remsen Street in Brooklyn Heights, Brooklyn, was recently sold for a total price of $7,500,000. The property consists of 8 units, with a price per unit of $937,500. It spans a total square footage of 8,153, resulting in a price per square foot of $920.

Summary of Transation Details

  • Property Type: Multifamily
  • Sale Price: $7,500,000
  • Units: 8
  • Price per Unit: $937,500
  • Square Footage: 8,153
  • Price per Square Foot: $920

Eckstrom NYC, represented by Carlos Saavedra, acquired the property from the seller, Demetrios Yatrakis.

Players

Carlos Saavedra

Eckstrom NYC

Buyer

$108.4M

vol

20 deals

Buyer
Demetrios Yatrakis

Demetrios Yatrakis

Lonicera Partners

Seller

$116.8M

vol

5 deals

Seller

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

2.80%

Cash-on-Cash

-0.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93