Christopher Leahy Of MRM Equity Acquires Multifamily Asset From Chaim Wurzberger For $7.25M
SOLD
$7,249,986
New York
See Similar DealsMultiFamily7,598 SF
Sold 12/30/2024
SOLD
Christopher Leahy Of MRM Equity Acquires Multifamily Asset From Chaim Wurzberger For $7.25M
489 3rd Avenue
See Similar DealsMultiFamily7,598 SF
Sold 12/30/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$954
Total Square Footage:7,598 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$386,665.91
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,757.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,368.63
Annual Debt Service$412,423.59
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