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388 Cornelia St Brooklyn, N...

Updated Oct 29, 2024

 Acquires Multifamily Property On 388 Cornelia Street, New York City For $3.8M
SOLDMultiFamily

Acquires Multifamily Property On 388 Cornelia Street, New York City For $3.8M

388 Cornelia St Brooklyn, NY 11237, USA

$3,800,000

$863/SF

Building Size

4,400 SF

Asset Type

MultiFamily

Closing

Jun 8, 2023

About this deal

AI

A multifamily property located at 388 Cornelia Street in New York City has been sold for $3,800,000. The property spans approximately 4,400 square feet, resulting in a price per square foot of $864.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,800,000
  • Address: 388 Cornelia Street
  • Market: New York City

The buyer of the property is , while the seller is Giovanni Castro, representing the 388 Cornelia Group. The brokerage for this transaction was also handled by Giovanni Castro, who is affiliated with Corcoran.

Players

Giovanni Castro

Compass

Broker

$29M

vol

7 deals

Broker

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $863 per square foot on a published $3.8M for 4,400 square feet (2023).

Visit Giovanni Castro to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.17%

Cash-on-Cash

-1.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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