Malcolm Louis Adams Represents Buyer In $1.55M Sale Of Brooklyn Multifamily Property
473 Monroe Street
$1,550,000
$1,033/SF
Building Size
1,500 SF
Asset Type
MultiFamily
Closing
Dec 9, 2024
AI
The property involved in this transaction is a multifamily townhouse located at 473 Monroe Street in Brooklyn. The sale price for this asset was $1,550,000, encompassing a total of 1,500 square feet and featuring two units. The price per unit stands at $775,000, while the price per square foot is noted at $1,033.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,550,000
- Units: 2
- Square Footage: 1,500
- Price Per Unit: $775,000
- Price Per Square Foot: $1,033
- Buyer's Representative: Malcolm Louis Adams
- Seller's Representative: Lisa Olivia Varlack & Esq. - Compass
This transaction involved key representatives in the real estate transaction: Malcolm Louis Adams represented the buyer, while the seller was represented by Lisa Olivia Varlack & Esq. of Compass. The property was newly renovated and featured modern design elements, enhancing the appeal to potential buyers and making it a valuable addition to the Brooklyn market.
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
10.23%
Cash-on-Cash
-2.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93