Updated Dec 21, 2023
Benjamin Rosenblum Acquires Multifamily Property In Park Slope, Brooklyn For $5.25M
49 Montgomery Place, Brooklyn, New York 11215, United States
$5,250,000
$1,148/SF
Building Size
4,572 SF
Asset Type
MultiFamily
Closing
Sep 22, 2022
About this deal
AI
The multifamily property located at 49 Montgomery Place in Park Slope, Brooklyn has been sold in a transaction that closed on September 23, 2022. The property is zoned as R7B and has a total square footage of 4,572. The sale price was $5,250,000, resulting in a price per square foot of $1,148. The building has a gross floor area of 5,400 and each unit is priced at $972 per square foot. The lot size is 1,800 square feet and the dimensions are 20 feet by 90 feet. The property's FAR is 2.54 and it falls under tax class 1. An alteration permit was issued on August 5, 1999.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,250,000
- Market: Park Slope, Brooklyn
- Multifamily Zoning: R7B
Benjamin Rosenblum was the buyer in this transaction, while Noel Cunningham was the seller. The deal was finalized without the involvement of any brokers.
Players
New York 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
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93