Alex Rabin & David Gomez Acquire Multifamily Property In Williamsburg For $2.8M
37 Frost Street
$2,762,500
$669/SF
Building Size
4,125 SF
Asset Type
MultiFamily
Closing
Feb 5, 2024
AI
A multifamily property located at 37 Frost Street in Williamsburg, Brooklyn has been sold for a total price of $2,762,500. The property consists of 6 units with an average price per unit of $460,417. The total square footage of the property is 4,125.00, resulting in a price per square foot of $670.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,762,500
- Units: 6
- Price per Unit: $460,417
- Total Square Footage: 4,125.00
- Price per Square Foot: $670
The buyers of the property are Alex Rabin and David Gomez, who represented Peak Capital. The sale was facilitated by Benjamin Vago and Sean R. Kelly from Ariel Property Advisors.
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
5.74%
Cash-on-Cash
-1.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93