Updated Nov 17, 2023
Jack Saadeh Acquires Single Family Property In Gravesend, Brooklyn For $8M
444 Avenue T, Brooklyn, New York 11223, United States
$8,000,000
$4,000,000/SF
Building Size
2 SF
Asset Type
MultiFamily
Closing
Mar 29, 2023
About this deal
AI
The single-family property located at 444 Avenue T in Gravesend, Brooklyn has been sold in a closed transaction. The property is zoned as R2X and OP, with a total lot size of 3,999 square feet. The lot measures 40 feet by 100 feet. The transaction took place on March 29, 2023.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $8,000,000
- Market: Gravesend, Brooklyn
- ASSET TYPE: Single Family ~ ZONING: R2X, OP
Buyer: Jack Saadeh
Seller: Abe Esses
The property was sold for a price of $8,000,000. The building has a total floor area of 3,399 square feet, resulting in a price per square foot of $2,353. The property itself measures 2,199 square feet, with a price per square foot of $3,638. The floor area ratio (FAR) is 0.55, and the tax class is 1.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $4M per square foot on a published $8M for 2 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93