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361 Stockholm St, Bushwick,...

Updated Dec 19, 2023

Phill Miller Acquires Multifamily Property In Bushwick For $1.83M
SOLDMultiFamily

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

Marcel Fridman

Barcel Group

Broker

$468.3M

vol

146 deals

Broker

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $375 per square foot on a published $1.8M for 4,875 square feet (2021).

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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

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