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366 State Street, Brooklyn,...

Updated Dec 21, 2023

Anne Keane Acquires Multifamily Property In Boerum Hill, Brooklyn For $7M
SOLDMultiFamily

Anne Keane Acquires Multifamily Property In Boerum Hill, Brooklyn For $7M

366 State Street, Brooklyn, New York 11217, United States

$7,000,000

$1,730/SF

Building Size

4,046 SF

Asset Type

MultiFamily

Closing

Aug 14, 2022

About this deal

AI

The property at 366 State Street, located in Boerum Hill, Brooklyn, was recently sold in a multifamily asset transaction. The property is zoned as R6B, R7A, C2-4, and DB, allowing for various uses. The sale took place on 08/15/2022, with the buyer identified as Anne Keane and the seller as Rebecca Wright.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $7,000,000
  • Building Square Footage: 4,150
  • Price per Building Square Foot: $1,686
  • Lot Square Footage: 2,075
  • Price per Square Foot: $1,730
  • Floor Area Ratio (FAR): 1.95
  • Tax Class: 1
  • Permits: Alteration 1 (04/07/2005)
  • Lot Dimensions: 20.75 ft x 100 ft

The deal involved several zoning designations, including R6B, R7A, C2-4, and DB, allowing for a range of development options on the property. The sale price was $7,000,000, with a building square footage of 4,150 and a lot size of 2,075 square feet. The property's price per building square foot was $1,686, and the price per square foot was $1,730. The transaction also included an alteration permit issued on 04/07/2005.

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New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $1.7K per square foot on a published $7M for 4,046 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.27%

Cash-on-Cash

-0.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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