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

Property Image
SOLD
$2,685,000
Luke Sproviero
Daniel Shawah
+ 4

New York

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MultiFamily3,750 SF
Sold 09/02/2022
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Property Image
SOLD

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

43 Saint Marks Place

See Similar Deals
MultiFamily3,750 SF
Sold 09/02/2022
Luke Sproviero
Daniel Shawah
+ 4
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$716
Total Square Footage:3,750 SF
Transaction Type:Sale

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
137 deals$583.5M volume(314) 920-8639
BROKER

Corey Haynes
Investment Property Realty Group (IPRG)
62 deals$228M volume(718) 360-1942
BROKER

Derek Bestreich
Investment Property Realty Group (IPRG)
312 deals$1.1B volume(718) 360-8802
BROKER

Daniel Shawah
Baldwin Pearson & Co
33 deals$103.9M volume(203) 531-6348
BROKER

Luke Sproviero
Investment Property Realty Group (IPRG)
222 deals$848.7M volume
BROKER

Toby Waring
Investment Property Realty Group (IPRG)
89 deals$348.6M volume
BROKER

Details

SOLD
IMAGE: POST SALE IMAGE: Derek Bestreich, Luke Sproviero, Adam Lobel & Corey Haynes DATE: 09/02/2022 ADDRESS: 43 St. Marks Pl. MARKET: Boerum Hill, Brooklyn ASSET TYPE: Multifamily BUYER: Justin Lee SELLER: Carmen Martinez BROKERS: Derek Bestreich, Luke Sproviero (@LukeSProviero), Adam Lobel (@AdamLobelRealEstate), Toby Waring (@BklynBricks), Daniel Shawah (@DanielJShawah) & Corey Haynes (@Corey_Haynes) - Investment Property Realty Group (IPRG) (@IPRG_NY) SALE PRICE: $2,685,000 UNITS: 3 ~ PPU: $895,000 SF: 3,750 ~ PPSF: $716

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$143,200.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,539.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,728.27
Annual Debt Service$152,739.24