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489 3rd Avenue

Christopher Leahy Of MRM Equity Acquires Multifamily Asset From Chaim Wurzberger For $7.25M
SOLDMultiFamily

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

Devin Hugh Leahy

Douglas Elliman

Broker

$7.2M

vol

1 deal

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

2.19%

Cash-on-Cash

-0.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93