Updated Dec 21, 2023
Barcel Group Facilitates $3.5M Sale Of 4-Unit Multifamily Property In Brooklyn Heights
51 Hicks St, Brooklyn, NY 11201, USA
$3,500,000
$1,000/SF
Building Size
3,500 SF
Asset Type
MultiFamily
Closing
Nov 10, 2022
About this deal
AI
The multifamily property located at 51 Hicks Street in Brooklyn Heights has been sold. The property was delivered fully vacant at closing, providing a blank canvas for the new owner to reimagine the space. With 4 units, the property offers a spacious and versatile layout for potential tenants.
Summary of Transaction Details:
- Property Type: Multifamily
- Sale Price: $3,500,000
- Number of Units: 4
- Price Per Unit: $875,000
- Square Footage: 3,500
- Price Per Square Foot: $1,000
- Market: Brooklyn Heights
- Seller: Goodman Family
- Broker: Marcel Fridman - Barcel Group
Marcel Fridman from Barcel Group represented the seller, Goodman Family, in this transaction. His expertise in the Brooklyn Heights market proved invaluable in securing a successful sale for his clients. The property's prime location in Brooklyn Heights offers convenient access to nearby amenities and attractions, making it an attractive investment opportunity.
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93