Updated Sep 5, 2024
Lila Place Acquires Multifamily Property In Carroll Gardens For $1.5M
409 Smith Street
$1,500,000
$774/SF
Building Size
1,938 SF
Asset Type
MultiFamily
Closing
Apr 7, 2023
About this deal
AI
The multifamily property located at 409 Smith Street in Carroll Gardens was recently sold in a closed transaction. The property consists of 3 units with a total square footage of 1,938. The sale price for this property was $1,500,000, making the price per unit $500,000. The price per square foot was $774.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,500,000
- Address: 409 Smith Street, Carroll Gardens
- Market: Carroll Gardens
- Units: 3
- Square Footage: 1,938
Lila Place purchased the property from the Rotondi Family. The deal was facilitated by brokers John Brennan and Miles Davis-Bosch from Marcus & Millichap. They represented both the buyer and the seller in this transaction.
Players
Market 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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93