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428 Vanderbilt Avenue

Updated Dec 4, 2024

Moving Keyz Realty Acquires Multifamily Property On Vanderbilt Avenue In Fort Greene For $2.8M
SOLDMultiFamily

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.

Players

Christopher A. Lee

Moving Keyz Realty

Broker

$3.1M

vol

1 deal

Broker

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $922 per square foot on a published $3.1M for 3,360 square feet (2023).

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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

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