Updated Oct 28, 2024
Solaire Capital LLC Acquires Multifamily Property On Grant Ave. In Brooklyn For $800K
450 Grant Avenue, Brooklyn, New York 11208, United States
$800,000
$140/SF
Building Size
5,712 SF
Asset Type
MultiFamily
Closing
Mar 21, 2022
About this deal
AI
Located at 450 Grant Ave in Brooklyn, this multifamily property was recently sold in a transaction facilitated by Solaire Capital LLC's representative, Joshua Movtady. The property features a total of 6 units, offering a per unit price of $133,333. Spanning across 5,712 square feet, the property was sold at a sale price of $800,000, equating to $140 per square foot.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $800,000
- Units: 6
- Price per Unit: $133,333
- Square Footage: 5,712
- Price per Square Foot: $140
- Market: Brooklyn
The buyer, Solaire Capital LLC, was represented by Joshua Movtady, while the sellers were Bishuanath Raghunath and Rubina Raghunath. Jonny Movtady served as the buyer's attorney in this transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
19.83%
Cash-on-Cash
-5.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93