Sinai Sassouni Acquires Multifamily Property In Bushwick For $2.9M
SOLD
$2,926,000
+ 1
New York
See Similar DealsMultiFamily5,612 SF
Sold 08/05/2021
SOLD
Sinai Sassouni Acquires Multifamily Property In Bushwick For $2.9M
522 Evergreen Avenue, Bushwick, Brooklyn, NY, USA
See Similar DealsMultiFamily5,612 SF
Sold 08/05/2021
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$521
Total Square Footage:5,612 SF
Transaction Type:Sale
This multifamily property located at 522 Evergreen Avenue in Bushwick was recently sold in a closed transaction. The property, with a total square footage of 5,612, features 8 units. The sale price for this transaction was $2,926,000, resulting in a price per square foot of $521. The buyer, Sinai Sassouni, represented by 522 Evergreen Partners, acquired the property from the seller, David Shaulian.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,926,000
- Address: 522 Evergreen Avenue, Bushwick
- Market: Bushwick
- Asset Type: Multifamily
- Zoning: R6
- Tax Class: 2B
The deal was facilitated by the brokers Matthew Gillis, Matthew Davis, and Daniel Mahfar from Ariel Property Advisors, who represented both the buyer and seller in the transaction. The price per unit in this transaction was approximately $365,750.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$156,053.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,395.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,870.73
Annual Debt Service$166,448.79
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