The Lacovelli Family Acquires 8-Unit Multifamily Property In Prospect Heights, Brooklyn For $4.1M
533 Bergen Street
$4,125,000
$589/SF
Building Size
7,000 SF
Asset Type
MultiFamily
Closing
Dec 29, 2023
AI
A multifamily property located at 533 Bergen Street in Prospect Heights, Brooklyn has been sold in a closed transaction. The property consists of 8 units and spans across 7,000 square feet. The sale price for this transaction was $4,125,000, resulting in a price per unit of $515,625 and a price per square foot of $589.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,125,000
- Units: 8
- Price per Unit: $515,625
- Square Footage: 7,000
- Price per Square Foot: $589
The buyer of this property is The Lacovelli Family, while the sellers are David Manheimer and Benji Kohn. The transaction was facilitated by Shaun Riney, Andrew Bronsteen, and Jason Farese from Marcus & Millichap acting as the brokers in this deal.
Players
Brooklyn 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
3.85%
Cash-on-Cash
-1.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93