Alex Freedman Purchases Multifamily Property From The Reinoso Family For $1.9 Million In Brooklyn
468 40th Street
$1,900,000
$337/SF
Building Size
5,625 SF
Asset Type
MultiFamily
Closing
Jan 8, 2025
AI
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.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93