Alex Freedman Purchases Multifamily Property From The Reinoso Family For $1.9 Million In Brooklyn
SOLD
$1,900,000
New York
See Similar DealsMultiFamily5,625 SF
Sold 01/08/2025
SOLD
Alex Freedman Purchases Multifamily Property From The Reinoso Family For $1.9 Million In Brooklyn
468 40th Street
See Similar DealsMultiFamily5,625 SF
Sold 01/08/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$337
Total Square Footage:5,625 SF
Transaction Type:Sale
This multifamily asset located at 468 40th Street in Brooklyn features a total of 6 units and spans 5,625 square feet. The transaction concluded with a sale price of $1,900,000, resulting in a price per unit of $316,666 and a price per square foot of $337.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,900,000
- Units: 6
- Square Footage: 5,625
- Price Per Unit: $316,666
- Price Per Square Foot: $337
- Buyer: Alex Freedman
- Seller: The Reinoso Family
- Brokers: Matthew Cosentino & Remi Norris - Terra CRG
Alex Freedman acquired the property from The Reinoso Family, with the transaction facilitated by brokers Matthew Cosentino and Remi Norris who represent Terra CRG in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$101,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,750.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,006.97
Annual Debt Service$108,083.63
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