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
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