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David Lloyd Of Lloyd Properties Purchases Brooklyn Multifamily Asset For $2.5 Million

Property Image
SOLD
$2,500,000
Jason Farese
Andrew Bronsteen
Shaun Riney

New York

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MultiFamily4,968 SF
Sold 12/20/2024
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Property Image
SOLD

David Lloyd Of Lloyd Properties Purchases Brooklyn Multifamily Asset For $2.5 Million

533 Washington Avenue

See Similar Deals
MultiFamily4,968 SF
Sold 12/20/2024
Jason Farese
Andrew Bronsteen
Shaun Riney
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$503
Total Square Footage:4,968 SF
Transaction Type:Sale

The property is a multifamily asset located at 533 Washington Avenue in Brooklyn. The transaction was completed for a sale price of $2,500,000, with a total of 9 units. The property has a square footage of 4,968, resulting in a price per unit of $277,777 and a price per square foot of $503.

Summary of transaction details:

Congratulations to Lloyd Properties and David Lloyd on the successful transaction. The team of brokers, including Andrew Bronsteen, Shaun Riney, and Jason Farese from Marcus & Millichap, noted that David and his group exhibited transparency, communication, and responsiveness throughout the transaction process.

Players

Andrew Bronsteen
Marcus & Millichap
Andrew Bronsteen
64 deals$257.5M volume
BROKER
Shaun Riney
Marcus & Millichap
Shaun Riney
357 deals$1.8B volume(718) 475-4369
BROKER
Jason Farese
Marcus & Millichap
Jason Farese
24 deals$84.6M volume(718) 475-4352
BROKER

Details

SOLD
IMAGE: Ian Miller, Shaun Riney, David Lloyd, Andrew Bronsteen & Jason Farese DATE: 12/20/2024 ADDRESS: 533 Washington Avenue MARKET: Brooklyn ASSET TYPE: Multifamily BUYER: David Lloyd (@DavidtLloyd) - Lloyd Properties (@LloydProperties) BROKERS: Andrew Bronsteen (@BKBronsteen/), Shaun Riney (@ShaunRiney1) & Jason Farese (@JRFaresenymf) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $2,500,000 UNITS: 9 ~ PPU: $277,777 SF: 4,968 ~ PPSF: $503 NOTE FROM BROKER: Congratulations to @lloydproperties and @davidtlloyd on a smooth transaction. David and his group were extremely transparent, communicative, responsive, and easy to work with throughout the transaction process

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$133,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
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