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475 Hancock Street, Brookly...

Samuel Kooris Acquires Bedford-Stuyvesant Apartment For $3.875M
SOLDMultiFamily

Samuel Kooris Acquires Bedford-Stuyvesant Apartment For $3.875M

475 Hancock Street, Brooklyn, New York 11233, United States

$3,875,000

$416/SF

Building Size

9,295 SF

Asset Type

MultiFamily

Closing

Aug 2, 2022

AI

An apartment building located at 475 Hancock Street in Bedford-Stuyvesant, Brooklyn has been sold in a recent transaction. The property, with a lot size of 3,250 square feet and dimensions of 32.5 feet by 100 feet, is zoned as R6B. The sale took place on August 3, 2022, with a purchase price of $3,875,000. The building has a total square footage of 9,295, resulting in a price per square foot of $416. The buyer, Samuel Kooris, acquired the property from Eugene F. DelFavero. The previous sale of the property occurred on March 19, 2015, with a price of $2,100,000. It is worth noting that an alteration permit was issued on February 11, 2016.

Summary of transaction details

  • Property Type: Apartment
  • Transaction Amount: $3,875,000
  • Market: Bedford-Stuyvesant, Brooklyn
  • Zoning: R6B
  • Buyer: Samuel Kooris
  • Seller: Eugene F. DelFavero
  • Building Square Footage: 9,295
  • Price per Square Foot: $416
  • Lot Size: 3,250 square feet
  • Last Sale Price: $2,100,000 (03/19/2015)
  • Permits: Alteration 2 (02/11/2016)
  • Lot Dimension: 32.5 ft x 100 ft

This transaction brings together Samuel Kooris as the buyer and Eugene F. DelFavero as the seller. The building, located at 475 Hancock Street, offers a total of 9,295 square feet of space for residential purposes. The property's previous sale price was $2,100,000 on March 19, 2015. The recent transaction involved a purchase price of $3,875,000, resulting in a price per square foot of $416. Additionally, an alteration permit was issued on February 11, 2016, suggesting potential modifications to the building.

Players

Samuel Kooris

Alchemy Ventures

Buyer

$61.8M

vol

7 deals

Buyer

Eugene F. DelFavero

Alcion Ventures

Seller

$99.6M

vol

5 deals

Seller

New York 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

4.09%

Cash-on-Cash

-1.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93