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Eric Orlofsky Sells Multifamily Property On State Street, New York City For $4.7M

Property Image
SOLD
$4,700,000
Zachary Fuchs
Ben Khakshoor
+ 1

New York

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MultiFamily7,020 SF
Sold 08/01/2023
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Property Image
SOLD

Eric Orlofsky Sells Multifamily Property On State Street, New York City For $4.7M

411 State St Brooklyn, NY 11217, USA

See Similar Deals
MultiFamily7,020 SF
Sold 08/01/2023
Zachary Fuchs
Ben Khakshoor
+ 1
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$669
Total Square Footage:7,020 SF
Transaction Type:Sale

The multifamily property located at 411 State Street, New York City, has been sold for a total price of $4,700,000. The property consists of 8 units with an average price per unit of $587,500. The total square footage of the property is 7,020, resulting in a price per square foot of $670.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,700,000
  • Units: 8
  • Price per Unit: $587,500
  • Square Footage: 7,020
  • Price per Square Foot: $670
  • Address: 411 State Street, New York City

Zachary Fuchs of GFI Realty Services, along with Alex Fuchs and Ben Khakshoor of Rosewood Realty Group, represented the seller, Eric Orlofsky, in this transaction.

Players

Ben Khakshoor
134 deals$1.9B volume(212) 359-9913
BROKER

Zachary Fuchs
GFI Realty Services
62 deals$322.8M volume
BROKER

Alex Fuchs
Rosewood Realty Group
101 deals$1.9B volume
BROKER

Eric Orlofsky
8 deals$33.8M volume
SELLER

Details

SOLD
IMAGE: Ben Khakshoor, Zachary Fuchs & Alex Fuchs DATE: 08/01/2023 ADDRESS: 411 State Street MARKET: New York City ASSET TYPE: Multifamily SELLER: Eric Orlofsky BROKERS: Zachary Fuchs (@ZacharyDFuchs) - GFI Realty Services & Alex Fuchs & Ben Khakshoor - Rosewood Realty Group SALE PRICE: $4,700,000 UNITS: 8 ~ PPU: $587,500 SF: 7,020 ~ PPSF: $670

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$16,698.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,280.40
Annual Debt Service$267,364.77