Alex Rabin & David Gomez Acquire Multifamily Property In Williamsburg For $2.8M
SOLD
New York
See Similar DealsMultiFamily4,125 SF
Sold 02/05/2024
SOLD
Alex Rabin & David Gomez Acquire Multifamily Property In Williamsburg For $2.8M
37 Frost Street
See Similar DealsMultiFamily4,125 SF
Sold 02/05/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$669
Total Square Footage:4,125 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$147,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,814.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,095.66
Annual Debt Service$157,147.91
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