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43 Saint Marks Place

Updated Sep 9, 2024

Justin Lee Acquires 3-Unit Multifamily In Boerum Hill, Brooklyn For $2.7M
SOLDMultiFamily

Justin Lee Acquires 3-Unit Multifamily In Boerum Hill, Brooklyn For $2.7M

43 Saint Marks Place

$2,685,000

$716/SF

Building Size

3,750 SF

Asset Type

MultiFamily

Closing

Sep 2, 2022

About this deal

AI

The multifamily property located at 43 St. Marks Pl. in Boerum Hill, Brooklyn has been sold in a recent transaction. The property consists of 3 units with a total square footage of 3,750. The sale price for this transaction was $2,685,000, resulting in a price per unit of $895,000 and a price per square foot of $716.

Summary of transaction details:

The deal was facilitated by the team at Investment Property Realty Group (IPRG), consisting of brokers Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, Daniel Shawah, and Corey Haynes. They represented both the buyer, Justin Lee, and the seller, Carmen Martinez, in this transaction. The involvement of these professionals ensures a smooth and efficient process for all parties involved.

Players

Adam Lobel

Investment Property Realty Group (IPRG)

Broker

$628.5M

vol

147 deals

Broker

Justin Lee

Buyer

$17.6M

vol

2 deals

Buyer

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $716 per square foot on a published $2.7M for 3,750 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.91%

Cash-on-Cash

-1.69%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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