Updated Dec 4, 2024
Meridian Capital Group Brokers $3.4M Sale Of Prospect Heights MultiFamily
464 Prospect Place
$3,400,000
$607/SF
Building Size
5,600 SF
Asset Type
MultiFamily
Closing
Sep 28, 2023
About this deal
AI
A multi-family property in Prospect Heights has been sold for $3,400,000. Located at 464 Prospect Place, this property consists of 8 units with an average price per unit of $425,000. The total square footage of the property is 5,600, making the price per square foot $607. The property has a cap rate of 6%, indicating a profitable investment opportunity.
Summary of transation details
- Property Type: MultiFamily
- Transaction Amount: $3,400,000
- Units: 8
- Price per Unit: $425,000
- Total Square Footage: 5,600
- Price per Square Foot: $607
- Cap Rate: 6%
- BROKERS: Adam J. Hess & Edward (Eddie) Setton - Meridian Capital Group
The sale of this multi-family property was facilitated by Adam J. Hess and Edward (Eddie) Setton, representatives of Meridian Capital Group. Their expertise and negotiation skills played a crucial role in finalizing the deal. Prospect Heights, known for its vibrant community and convenient location, continues to attract investors looking for profitable real estate opportunities.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Edward (Eddie) Setton to view all their deals.
Browse Brooklyn multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93