The Lacovelli Family Acquires 8-Unit Multifamily Property In Prospect Heights, Brooklyn For $4.1M
SOLD
$4,125,000
+ 1
New York
See Similar DealsMultiFamily7,000 SF
Sold 12/29/2023
SOLD
The Lacovelli Family Acquires 8-Unit Multifamily Property In Prospect Heights, Brooklyn For $4.1M
533 Bergen Street
See Similar DealsMultiFamily7,000 SF
Sold 12/29/2023
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$589
Total Square Footage:7,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$220,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,655.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,554.60
Annual Debt Service$234,655.25
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