Cohabs Acquires Multifamily Property On Park Place For $2.775M
SOLD
$2,775,000
New York
See Similar DealsMultiFamily4,860 SF
Sold 09/01/2023
SOLD
Cohabs Acquires Multifamily Property On Park Place For $2.775M
517 Park Pl Brooklyn, NY 11238, USA
See Similar DealsMultiFamily4,860 SF
Sold 09/01/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$571
Total Square Footage:4,860 SF
Transaction Type:Sale
A multifamily property located at 517 Park Place in Crown Heights, Brooklyn has been sold for a price of $2,775,000. The property consists of four units with an average price per unit of $693,750. The total square footage of the property is 4,860, resulting in a price per square foot of $571.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,775,000
- Units: 4
- Price per Unit: $693,750
- Square Footage: 4,860
- Price per Square Foot: $571
- Address: 517 Park Place, Crown Heights, Brooklyn
The buyer of the property is Cohabs, represented by James Grasso. The seller of the property is the Williams Family. The transaction was facilitated by Marcel Fridman from the Barcel Group, who acted as the broker in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$148,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,858.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,154.92
Annual Debt Service$157,858.99
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