Updated Dec 21, 2023
Marcus & Millichap Sells Bay Ridge Multifamily For $3.4M With Buyer's Rep Matt Fotis & Seller's Rep George Georgaklis
49 MacKay Place, Bay Ridge, Brooklyn, NY, USA
$3,400,000
$241/SF
Building Size
14,094 SF
Asset Type
MultiFamily
Closing
Jun 30, 2020
About this deal
AI
Located in Bay Ridge, the multifamily property at 49 Mackay Place was sold on June 30, 2021. The transaction was facilitated by Matt Fotis from Marcus & Millichap, representing the seller, and George Georgaklis, the buyer's lawyer.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $3,400,000
- Square Footage: 14,094
- Price per Square Foot: $241
- Units: 23
- Price per Unit: $147,826
Alongside the involvement of Matt Fotis from Marcus & Millichap, George Georgaklis, the buyer's lawyer, played a crucial role in the successful closing of this property sale. Their expertise in the industry contributed to the smooth execution of the transaction.
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
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93