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418 Suydam St, Brooklyn, NY...

Joe Lichtman Acquires Multifamily Property In Brooklyn For $2.025M From Seller Mike Ruegger
SOLDMultiFamily

Joe Lichtman Acquires Multifamily Property In Brooklyn For $2.025M From Seller Mike Ruegger

418 Suydam St, Brooklyn, NY 11237, USA

$2,025,000

$428/SF

Building Size

4,725 SF

Asset Type

MultiFamily

Closing

Aug 12, 2020

AI

The multifamily property located at 418 Suydam Street in Brooklyn, was recently sold for a total price of $2,025,000. The property, measuring 4,725 square feet, was fully vacant at the time of closing. This transaction was facilitated by broker Marcel Fridman of Barcel Group.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,025,000
  • Address: 418 Suydam Street, Brooklyn
  • Market: Brooklyn
  • Buyer: Joe Lichtman
  • Seller: Mike Ruegger
  • Broker: Marcel Fridman - Barcel Group

Joe Lichtman acted as the buyer in this deal, while Mike Ruegger served as the seller. Marcel Fridman, representing the Barcel Group, facilitated the transaction. The property's price per square foot was $428.

Players

Marcel Fridman

Barcel Group

Broker

$456.5M

vol

142 deals

Broker

Joe Lichtman

Buyer

$24.5M

vol

7 deals

Buyer

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

7.83%

Cash-on-Cash

-2.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93