Danny Zelouf Acquires Multifamily Property In DUMBO, Brooklyn For $8.5M
53 Pearl Street, Dumbo, Brooklyn, NY, USA
$8,533,000
$490/SF
Building Size
17,407 SF
Asset Type
MultiFamily
Closing
May 23, 2021
AI
The multifamily property located at 53 Pearl Street in DUMBO, Brooklyn was sold on May 24, 2021. The property has a total square footage of 17,407 and a price per square footage of $490. The building has a total of 25,748 square feet and a price per square foot of $331. The sale price for the property was $8,533,000. The property is zoned as M1-4/R8A, MX-2, and has a FAR of 4.07. The tax class for the property is 4. The lot size is 4,277.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,533,000
- Market: DUMBO, Brooklyn
The buyer of the property is Danny Zelouf, and the seller is Thomas Masotto. The property had previously undergone an alteration type 1 permit on August 19, 2013. The lot dimensions are 47.08 feet x 91.17 feet.
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
1.86%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93