Updated Sep 9, 2024
TerraCRG And The Lennon Team Sell Multifamily Property In Bushwick, Brooklyn For $4 Million
38 Cooper Street, Brooklyn, New York 11207, United States
$4,000,000
$439/SF
Building Size
9,100 SF
Asset Type
MultiFamily
Closing
Mar 29, 2022
About this deal
AI
A multifamily property located at 38 Cooper St. in Bushwick, Brooklyn was recently sold for $4,000,000. The property comprises 16 units with an average price per unit of $250,000. It spans over 9,100 square feet, resulting in a price per square foot of $439.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,000,000
- Units: 16
- Price per Unit: $250,000
- Square Footage: 9,100
- Price per Square Foot: $439
- Address: 38 Cooper St.
- Market: Bushwick, Brooklyn
The sale of this multifamily property was facilitated by brokers Matt Cosentino and Isaiah Thomas from TerraCRG, as well as Russell Barnes and Zainab Aregbe from The Lennon Team at Douglas Elliman.
Players
New York 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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93