Brent Malcolm Purchases MultiFamily Property From Phyllis Morgan For $3.2 Million In Brooklyn
427 1st Street
$3,200,000
$888/SF
Building Size
3,600 SF
Asset Type
MultiFamily
Closing
Sep 8, 2024
AI
The property asset involved in the transaction is a MultiFamily unit located at 427 1st Street in Brooklyn. The sale price was $3,200,000, and the building comprises 3,600 square feet, resulting in a price per square foot of $888.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $3,200,000
- Address: 427 1st Street
- Market: Brooklyn
- Square Feet: 3,600
- Price Per Square Foot: $888
- Buyer: Brent Malcolm
- Seller: Phyllis Morgan
- Brokers: David Avgi & Ovi Lazari - Avenues Real Estate
The key individuals involved in this deal include buyer Brent Malcolm and seller Phyllis Morgan. The transaction was represented by brokers David Avgi and Ovi Lazari from Avenues Real Estate, who provide expertise in navigating the buying and selling processes in the real estate market.
Players
Brooklyn 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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93