Updated Dec 21, 2023
Bergen Basin Realty Acquires Multifamily Property In Crown Heights For $1.6M
466 Midwood Street, Brooklyn, New York 11225, United States
$1,600,000
$1,000/SF
Building Size
1,600 SF
Asset Type
MultiFamily
Closing
Nov 10, 2022
About this deal
AI
A multifamily property located at 466 Midwood Street in Crown Heights has been sold for $1,600,000. The property has a total square footage of 1,600, with a price per square foot of $1,000. It consists of 2 units, with each unit valued at approximately $800,000. The lot size is 4,000 square feet, with dimensions of 40 feet by 100 feet. The property is zoned as R6, with a floor area ratio (FAR) of 0.40. The tax classification for this property is 1.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $1,600,000
- BSF: 9,720
- Price Per BSF: $164
- Price Per Square Foot: $1,000
- Units: 2
- Price Per Unit: $800,000
- Lot Size: 4,000 square feet
- Lot Dimensions: 40 ft x 100 ft
- Zoning: R6
- Tax Class: 1
The transaction was facilitated by Lee Wasserman from Bergen Basin Realty. Wasserman served as the broker for this deal.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93