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400 Suydam St, Bushwick, Br...

Updated Dec 20, 2023

Joe Jacobs Acquires Multifamily Property On Suydam St. In Bushwick, Brooklyn For $1.3M
SOLDMultiFamily

Joe Jacobs Acquires Multifamily Property On Suydam St. In Bushwick, Brooklyn For $1.3M

400 Suydam St, Bushwick, Brooklyn, NY, USA

$1,285,000

$217/SF

Building Size

5,919 SF

Asset Type

MultiFamily

Closing

May 3, 2021

About this deal

AI

A multifamily property located at 400 Suydam St. in Bushwick, Brooklyn, was recently sold in a closed transaction. The property is situated in a R6-zoned area and features 6 units. It spans a total of 5,919 square feet and has a buildable square footage of 9,103. The property was sold for $1,285,000, with a price per square foot of $217. The buyer, Joe Jacobs, acquired the property from the seller, Vera Alcides.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $1,285,000
  • Market: Bushwick, Brooklyn
  • Zoning: R6
  • Address: 400 Suydam St.
  • Buyer: Joe Jacobs
  • Seller: Vera Alcides

Tiffany Jack from Venture Capital Properties represented both the buyer and the seller in this deal. Venture Capital Properties specializes in real estate transactions in Brooklyn and Manhattan below 96th St. Their services include multi-family, mixed-use, and retail leasing. To connect with Tiffany Jack and explore aggressively negotiated deals, reach out to [email protected] or call 917-378-3522.

Players

Tiffany Jack

Venture Capital Properties

Broker

$1.3M

vol

1 deal

Broker

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $217 per square foot on a published $1.3M for 5,919 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

12.34%

Cash-on-Cash

-3.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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