Updated Dec 4, 2024
Moving Keyz Realty Acquires Multifamily Property On Vanderbilt Avenue In Fort Greene For $2.8M
428 Vanderbilt Avenue
$3,100,000
$922/SF
Building Size
3,360 SF
Asset Type
MultiFamily
Closing
Aug 31, 2023
About this deal
AI
The recently sold multifamily property located at 428 Vanderbilt Avenue in Fort Greene, Brooklyn, has garnered attention in the real estate market. This property, consisting of 2 units spanning a total area of 3,360 square feet, was listed for sale by John Collymore. Mark Obrien acquired this multifamily asset at a sale price of $2,800,000, resulting in a per unit price of $1,400,000. With a price per square foot of $833, this property offers potential for a lucrative investment opportunity.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,800,000
- Units: 2
- Price per Unit: $1,400,000
- Total Square Footage: 3,360
- Price per Square Foot: $833
- Address: 428 Vanderbilt Avenue, Fort Greene, Brooklyn
- Market: Fort Greene, Brooklyn
This successful all-cash deal was facilitated by Christopher A. Lee from Moving Keyz Realty. As a representative of the buyer, Mark Obrien, Christopher A. Lee played a crucial role in ensuring the smooth completion of the transaction. Moving Keyz Realty, known for its expertise in both commercial and residential real estate, operates as a boutique brokerage located in the vibrant neighborhood of Dumbo, Brooklyn.
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
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93