Updated Oct 25, 2024
Mike Niamonitakis Acquires Multifamily Property In Carrol Gardens, Brooklyn For $9M
356 Union St, Brooklyn, NY 11231, USA
$9,000,000
$371/SF
Building Size
24,253 SF
Asset Type
MultiFamily
Closing
Aug 27, 2020
About this deal
AI
A multifamily property in Carrol Gardens, Brooklyn has been sold for $9,000,000. The property, located at 356-360 Union Street, offers a total of 36 units spread across 24,253 square feet. The sale price per square foot was $371, and the price per unit was $250,000. The property has a capitalization rate of 5.52%. The transaction took place on August 28, 2020.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $9,000,000
- Address: 356-360 Union Street
- Market: Carrol Gardens, Brooklyn
Mike Niamonitakis was the buyer of this property, while Ilan Goldstein was the seller. The deal was facilitated by brokers Peter Von Der Ahe, Shaun Riney, Mike Salvatico, and Mark Zarrella.
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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93