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37 Frost Street

Alex Rabin & David Gomez Acquire Multifamily Property In Williamsburg For $2.8M
SOLDMultiFamily

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

Sean R. Kelly, Esq.

Ariel Property Advisors

Broker

$529.8M

vol

56 deals

Broker

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