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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.

On the Map

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$3,800,000

$863/SF

MultiFamily

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Players

Giovanni Castro

Compass

Broker

$29M

vol

7 deals

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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).

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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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