MNB Developers Acquires Multifamily Property From Mikal Q Rutherford In Brooklyn For $1.41M
SOLD
$1,410,000
New York
See Similar DealsMultiFamily3,040 SF
Sold 10/21/2024
SOLD
MNB Developers Acquires Multifamily Property From Mikal Q Rutherford In Brooklyn For $1.41M
521 Monroe Street
See Similar DealsMultiFamily3,040 SF
Sold 10/21/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$463
Total Square Footage:3,040 SF
Transaction Type:Sale
The multifamily property located at 521 Monroe Street in Brooklyn has been sold for $1,410,000. This property comprises 2 units and has a total square footage of 3,040. The price per unit stands at $705,000, while the price per square foot is recorded at $463.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,410,000
- Buyer: MNB Developers
- Seller: Mikal Q Rutherford
- Units: 2
- Square Footage: 3,040
- Price Per Unit: $705,000
- Price Per Square Foot: $463
MNB Developers is actively involved in acquiring brownstones and townhouses throughout the Brooklyn area. For inquiries or discussions regarding potential deals, Judah from MNB Developers can be contacted directly via email at [email protected].
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$75,199.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,009.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,684.12
Annual Debt Service$80,209.43
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