Townhouse Rental LLC 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
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 Townhouse Rental LLC, 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
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
4.17%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93