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
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:
- Property Type: Multifamily
- Transaction Amount: $2,685,000
- Address: 43 St. Marks Pl.
- Market: Boerum Hill, Brooklyn
- Buyer: Justin Lee
- Seller: Carmen Martinez
- Brokers: Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, Daniel Shawah & Corey Haynes - Investment Property Realty Group (IPRG)
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
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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