Updated Sep 5, 2024
Eric Orlofsky Sells Multifamily Property On State Street, New York City For $4.7M
411 State St Brooklyn, NY 11217, USA
$4,700,000
$669/SF
Building Size
7,020 SF
Asset Type
MultiFamily
Closing
Aug 1, 2023
About this deal
AI
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.
On the Map
$4,700,000
$669/SF
MultiFamily
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New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.38%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93