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51 East 89th Street

Sandra Blake Acquires Multifamily Property In East Flatbush For $842.5K
SOLDMultiFamily

Sandra Blake Acquires Multifamily Property In East Flatbush For $842.5K

51 East 89th Street

$842,500

$315/SF

Building Size

2,667 SF

Asset Type

MultiFamily

Closing

Jul 20, 2022

AI

A multifamily property located at 51 E. 89th St. in East Flatbush has been sold in a recent transaction. The property consists of two units, with a total square footage of 2,667. The sale price for this transaction was $842,500, resulting in a price-per-unit (PPU) of $421,250 and a price-per-square-foot (PPSF) of $316.

Summary of Transaction Details:

  • Property Type: Multifamily
  • Transaction Amount: $842,500
  • Units: 2
  • Price per Unit (PPU): $421,250
  • Square Footage: 2,667
  • Price per Square Foot (PPSF): $316

Sandra Blake has purchased the property from Sondra Glasgow. The deal was facilitated by the brokers from The Corcoran Group, namely Doron Berenholtz, Stephanie Ohayon, and Adam Gur-Arie. They represented both the buyer and the seller in this transaction.

Players

Doron Berenholtz

The Corcoran Group

Broker

$16.5M

vol

16 deals

Broker

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

18.83%

Cash-on-Cash

-5.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93