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Brandon J Hall Acquires Multifamily Property In Cobble Hill, Brooklyn For $5.1M

Property Image
SOLD
$5,100,000

New York

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MultiFamily3,524 SF
Sold 06/01/2021
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Property Image
SOLD

Brandon J Hall Acquires Multifamily Property In Cobble Hill, Brooklyn For $5.1M

462 Henry Street, Cobble Hill, Brooklyn, NY, USA

See Similar Deals
MultiFamily3,524 SF
Sold 06/01/2021
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,447
Total Square Footage:3,524 SF
Transaction Type:Sale

Located at 462 Henry Street in Cobble Hill, Brooklyn, this multifamily property was recently sold in a closed transaction. The property is zoned as R6, LH-1, allowing for multiple units to be housed. With a building square footage (BSF) of 4,731, the price per BSF (PPBSF) comes out to be $1,077. The total area of the property is 3,524 square feet, giving it a price per square foot (PPSF) of $1,447. The lot size is 1,947, and the lot dimensions measure 22 ft x 88.5 ft. The property has a floor area ratio (FAR) of 1.81 and falls under tax class 1. It was last sold on April 28, 2008, for $2,500,000. A permit for alteration type 1 was issued on January 5, 2012.

Summary of Transaction Details

  • Property Type: Multifamily
  • Transaction Amount: $5,100,000
  • Buyer: Brandon J Hall
  • Seller: Christophe Petit

Brandon J Hall, represented by his broker, was the buyer in this transaction. Christophe Petit was the seller. The deal closed on June 1, 2021. Additionally, it's worth noting that the property has a tax class of 1.

Players

4 deals$52.5M volume
SELLER

Details

SOLD
IMAGE: 06/01/2021 ADDRESS: 462 Henry Street MARKET: Cobble Hill,Brooklyn ASSET TYPE: Multifamily ~ ZONING: R6, LH-1 BUYER: Brandon J Hall SELLER: Christophe Petit PRICE: $5,100,000 BSF: 4,731 ~ PPBSF: $1,077 SF: 3,524 ~ PPSF: $1,447 FAR: 1.81 TAX CLASS: 1 LOT SIZE: 1,947 LAST SALE PRICE: $2,500,000 (4/28/2008) PERMITS: Alteration type 1 (01/05/2012) LOT DIMENSIONS: 22 ft x 88.5 ft

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$18,119.23
Cash-on-Cash Return-1.27%
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