Updated Dec 19, 2023
Phill Miller Acquires Multifamily Property In Bushwick For $1.83M
361 Stockholm St, Bushwick, Brooklyn, NY, USA
$1,830,000
$375/SF
Building Size
4,875 SF
Asset Type
MultiFamily
Closing
Jun 22, 2021
About this deal
AI
A multifamily property located at 361 Stockholm St in Bushwick, was sold on 06/23/2021. The property was captured by Marcel Fridman in an image posted on Instagram. The sale price for the property was $1,830,000 with a size of 4,875 square feet, resulting in a price per square foot of $375. The transaction involved the buyer, Phill Miller, and the seller, Lek Lotongkhum. Marcel Fridman from Barcel Group represented both parties as the broker in this deal. Notably, the building was delivered fully vacant at closing.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,830,000
- Address: 361 Stockholm St
- Market: Bushwick
Phill Miller served as the buyer for this transaction, while Lek Lotongkhum acted as the seller. Marcel Fridman, representing Barcel Group, facilitated the deal as the broker. The property, captured in the Instagram post, was fully vacant at the time of closing.
Players
Brooklyn 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
8.67%
Cash-on-Cash
-2.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93