Christopher Leahy Of MRM Equity Acquires Multifamily Asset From Chaim Wurzberger For $7.25M
489 3rd Avenue
$7,249,986
$954/SF
Building Size
7,598 SF
Asset Type
MultiFamily
Closing
Dec 30, 2024
AI
The property involved in this transaction is a multifamily asset located at 489 3rd Avenue in Brooklyn. It was sold for $7,249,986, comprising 7,598 square feet, which results in a price per square foot of $954.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,249,986
- Address: 489 3rd Avenue
- Market: Brooklyn
- Square Footage: 7,598
- Price per Square Foot: $954
- Buyer: Christopher Leahy - MRM Equity
- Seller: Chaim Wurzberger - Candor Capital
- Broker: Devin Hugh Leahy - Douglas Elliman
Devin Hugh Leahy represented the buyer, Christopher Leahy. This transaction marks the third acquisition in Gowanus by the Leahy Family.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.19%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93