Updated Dec 21, 2023
Bestreich Realty Group Acquires Multifamily Property In Crown Heights, Brooklyn For $4.65M
516 Eastern Parkway, Crown Heights, Brooklyn, NY, USA
$4,650,000
$255/SF
Building Size
18,200 SF
Asset Type
MultiFamily
Closing
Oct 7, 2021
About this deal
AI
An multifamily property located at 516 Eastern Parkway in Crown Heights, Brooklyn has recently been sold for a price of $4,650,000. The property consists of 16 units with an average price per unit (PPU) of $290,625. It spans across a total area of 18,200 square feet, resulting in a price per square foot (PPSF) of $255.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $4,650,000
- Units: 16
- PPU: $290,625
- Square Footage: 18,200
- PPSF: $255
- Address: 516 Eastern Parkway, Crown Heights, Brooklyn
- Brokers: Derek Bestreich, Steve Reynolds & Tom Reynolds - Bestreich Realty Group (BRG)
The sale of this multifamily property was facilitated by Derek Bestreich, Steve Reynolds, and Tom Reynolds from Bestreich Realty Group (BRG). They represented the parties involved in the transaction, ensuring a successful deal.
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
3.41%
Cash-on-Cash
-0.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93