Joe Lichtman Acquires Multifamily Property In Brooklyn For $2.025M From Seller Mike Ruegger
SOLD
$2,025,000
New York
See Similar DealsMultiFamily4,725 SF
Sold 08/13/2020
SOLD
Joe Lichtman Acquires Multifamily Property In Brooklyn For $2.025M From Seller Mike Ruegger
418 Suydam St, Brooklyn, NY 11237, USA
See Similar DealsMultiFamily4,725 SF
Sold 08/13/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$428
Total Square Footage:4,725 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$108,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,194.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,599.53
Annual Debt Service$115,194.40
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