Cohabs Acquires MultiFamily Property In Stuyvesant Heights, Brooklyn For $3.2M
SOLD
$3,200,000
New York
See Similar DealsMultiFamily6,000 SF
Sold 09/01/2023
SOLD
Cohabs Acquires MultiFamily Property In Stuyvesant Heights, Brooklyn For $3.2M
391 Lewis Ave Brooklyn, NY 11233, USA
See Similar DealsMultiFamily6,000 SF
Sold 09/01/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$533
Total Square Footage:6,000 SF
Transaction Type:Sale
A multi-family property located at 391 Lewis Avenue in Stuyvesant Heights, Brooklyn has been sold for $3,200,000. The property consists of 4 units with an average price per unit of $800,000. It spans over 6,000 square feet, resulting in a price per square foot of $533.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $3,200,000
- Units: 4
- Average Price Per Unit: $800,000
- Square Footage: 6,000
- Price Per Square Foot: $533
- Address: 391 Lewis Avenue, Stuyvesant Heights, Brooklyn
- Market: Stuyvesant Heights, Brooklyn
- Buyer: Cohabs
- Seller: Nina Hooks
- Brokers: Sean Mashihi & Gabriel Kates - Block Real Estate Group
The sale was facilitated by Sean Mashihi and Gabriel Kates, representing the Block Real Estate Group. Cohabs purchased the property from Nina Hooks.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59
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