Matt Fotis & Chase Midgley Sell Multifamily Property In Boerum Hill For $2.1M
SOLD
$2,100,000
New York
See Similar DealsMultiFamily3,200 SF
Sold 06/09/2021
SOLD
Matt Fotis & Chase Midgley Sell Multifamily Property In Boerum Hill For $2.1M
480 Warren Street, Boerum Hill, Brooklyn, NY, USA
See Similar DealsMultiFamily3,200 SF
Sold 06/09/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$656
Total Square Footage:3,200 SF
Transaction Type:Sale
Located in Boerum Hill, this multifamily property at 480 Warren Street recently changed ownership in a closed transaction. The property spans 3,200 square feet and falls under tax class 2A. The sale price for this asset was $2,100,000, resulting in a price per square foot (PPSF) of $656.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $2,100,000
- Address: 480 Warren Street
- Market: Boerum Hill
- Tax Class: 2A
The seller, Joel Yates, enlisted the services of Matt Fotis and Chase Midgley from an undisclosed agency to represent him in the transaction. Their expertise contributed to the successful completion of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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