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481 Putnam Avenue

Ashkan Yashar Of Green Zone Developers And Kia Moosazadeh Sell Brooklyn Multifamily For $3.39M
SOLDMultiFamily

Ashkan Yashar Of Green Zone Developers And Kia Moosazadeh Sell Brooklyn Multifamily For $3.39M

481 Putnam Avenue

$3,390,000

$941/SF

Building Size

3,600 SF

Asset Type

MultiFamily

Closing

Aug 23, 2024

AI

The property involved in this transaction is a multifamily asset located at 481 Putnam Avenue in the Brooklyn market. The sale price was $3,390,000, consisting of 2 units with a price per unit of $1,695,000. The property has a total square footage of 3,600 and a price per square foot of $941.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,390,000
  • Units: 2
  • Price Per Unit: $1,695,000
  • Square Footage: 3,600
  • Price Per Square Foot: $941
  • Seller: Ashkan Yashar - Green Zone Developers & Kia Moosazadeh, Sam Rosh - Pristine Developers
  • Broker: Daniel Kandinov, Natalia Kaminskaya & Riley O'Donnell - The DNK Team - The Corcoran Group

Notably, the sellers are capable of high-end custom jobs and currently have ongoing developments in the area. They are actively seeking to acquire properties of any asset class, regardless of condition or occupancy status, with a preference for quick and easy closings.

Players

Daniel Kandinov

The Corcoran Group

Broker

$12.6M

vol

2 deals

Broker

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

4.68%

Cash-on-Cash

-1.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93