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393 East 34th Street, Brook...

Kumar Sur Acquires Multifamily Property In Brooklyn For $2.01M
SOLDMultiFamily

Kumar Sur Acquires Multifamily Property In Brooklyn For $2.01M

393 East 34th Street, Brooklyn, New York 11203, United States

$2,010,000

$448/SF

Building Size

4,484 SF

Asset Type

MultiFamily

Closing

Jan 13, 2022

AI

The multifamily property located at 393 & 395 E. 34th in Brooklyn has recently been sold. The sale, which took place on January 14, 2022, involved a total of four units within the property. The buyer, Kumar Sur, acquired the property from the seller, Eli Asdon, for a sale price of $2,010,000. This translates to approximately $502,500 per unit. The total square footage of the property is 4,484, resulting in a price per square foot of $448.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,010,000
  • Units: 4
  • Price Per Unit: $502,500
  • Square Footage: 4,484
  • Price Per Square Foot: $448
  • Market: Brooklyn

The sale was facilitated by Sully Klein from Real Street, who represented the buyer, Kumar Sur. Both parties involved in the transaction successfully concluded the deal.

Players

Sully Klein

Broker

$28.7M

vol

14 deals

Broker

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

7.89%

Cash-on-Cash

-2.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93