Updated Dec 21, 2023
Carter Martin Acquires Multifamily Property On 476 Irving Avenue, Bushwick, Brooklyn For $3.58M
476 Irving Avenue, Brooklyn, New York 11237, United States
$3,580,000
$841/SF
Building Size
4,256 SF
Asset Type
MultiFamily
Closing
Jun 22, 2022
About this deal
AI
The multifamily property located at 476 Irving Avenue in Bushwick, Brooklyn was recently sold in a closed transaction. The property is zoned R6 and has a lot size of 1,900 square feet. The building has a total BSF (building square footage) of 4,617, with an average price per BSF of $775. The total SF (square footage) of the property is 4,256, with an average price per SF of $841. The property has a FAR (floor area ratio) of 2.24 and is classified as tax class 2A. The last recorded sale of the property was on October 9, 2018, for a price of $1,150,000. There was an alteration permit issued on December 13, 2018.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,580,000
- Buyer: Carter Martin
- Seller: Rosemary Hayden
In this transaction, Carter Martin represented the buyer, and Rosemary Hayden represented the seller. The property was sold for a total price of $3,580,000. The sale price per BSF was $775, and the sale price per SF was $841.
Players
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
4.43%
Cash-on-Cash
-1.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93