TerraCRG And The Lennon Team Sell Multifamily Property In Bushwick, Brooklyn For $4 Million
SOLD
$4,000,000
+ 1
New York
See Similar DealsMultiFamily9,100 SF
Sold 03/30/2022
SOLD
TerraCRG And The Lennon Team Sell Multifamily Property In Bushwick, Brooklyn For $4 Million
38 Cooper Street, Brooklyn, New York 11207, United States
See Similar DealsMultiFamily9,100 SF
Sold 03/30/2022
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$439
Total Square Footage:9,100 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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