Updated Oct 28, 2024
The Sohayegh Family Acquires Boerum Hill Multifamily From Legacy Equities For $3.05M
231 Dean Street, Brooklyn, New York 11217, United States
$3,700,000
$1,305/SF
Building Size
2,835 SF
Asset Type
MultiFamily
Closing
Jan 17, 2022
About this deal
AI
An eight-unit multifamily property located at 452 Atlantic Avenue in Boerum Hill has been sold for $3,050,000. The property spans 6,000 square feet, with each unit having an average price per unit of $381,250. The price per square foot is $508.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,050,000
- Address: 452 Atlantic Avenue
- Market: Boerum Hill
The buyer of the property is the Sohayegh Family, while Legacy Equities acted as the seller. The sale was facilitated by brokers Shaun Riney, Michael Salvatico, Andrew Bronsteen, and Robbie Ferman from Marcus & Millichap. Notably, the transaction was successfully completed with the assistance of George Georgaklis from GM Law NY and Siminoulaw.
Congratulations to all parties involved in this successful sale!
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93