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Lee Family Acquires Multifamily Property In East New York For $1.65M

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SOLD
$1,650,000

New York

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MultiFamily8,663 SF
Sold 02/16/2024
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Property Image
SOLD

Lee Family Acquires Multifamily Property In East New York For $1.65M

418 New Jersey Avenue

See Similar Deals
MultiFamily8,663 SF
Sold 02/16/2024
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$190
Total Square Footage:8,663 SF
Transaction Type:Sale

The multifamily property located at 418 New Jersey Avenue & 327 Milford Street in East New York, Brooklyn, was sold for $1,650,000. The property comprises 12 units with a price per unit of $137,500. The total square footage of the property is 8,663, resulting in a price per square foot of $190.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,650,000
  • Units: 12
  • Price Per Unit: $137,500
  • Square Footage: 8,663
  • Price Per Square Foot: $190
  • Address: 418 New Jersey Avenue & 327 Milford Street, East New York, Brooklyn
  • Market: East New York, Brooklyn
  • Buyer: Lee Family
  • Seller: Joel Braun
  • Broker: Roni Yaghoobzar & Joe Safdie - Safdie Realty Group

Safdie Realty Group played a significant role in representing both the seller, Joel Braun, and the buyer, Lee Family, in this successful transaction. For further inquiries and more opportunities, interested parties can directly contact Roni Yaghoobzar at [email protected].

Players

Joseph Safdie
16 deals$25.1M volume
BROKER

Roni Yaghoobzar
Safdie Realty Group
15 deals$25.8M volume
BROKER

Details

SOLD
IMAGE: Roni Yaghoobzar & Joe Safdie DATE: 02/16/2024 ADDRESS: 418 New Jersey Avenue & 327 Milford Street MARKET: East New York, Brooklyn ASSET TYPE: Multifamily BUYER: Lee Family SELLER: Joel Braun BROKER: Roni Yaghoobzar & Joe Safdie (@JoeSafdie) - Safdie Realty Group (@Safdie_Realty_Group) SALE PRICE: $1,650,000 UNITS: 12 ~ PPU: $137,500 SF: 8,663 ~ PPSF: $190 NOTE FROM THE BROKER: Safdie Realty Group successfully represented the seller and purchaser on this transaction. For more opportunities please reach out directly: Roni Yaghoobzar [email protected]

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,862.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,821.84
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