Updated Sep 5, 2024
Duke Properties Acquires 8-Unit Multifamily Property In Brooklyn For $3.375M
54 Cumberland St, Brooklyn, NY 11205, USA
Building Size
6,264 SF
Asset Type
MultiFamily
Closing
Mar 29, 2018
About this deal
AI
A multifamily property located at 54 Cumberland Street in Brooklyn, New York was recently sold for $3,375,000. The property spans 6,264 square feet and has a price per square foot of $539. It consists of 8 units, with an average price per unit of $421,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,375,000
- Address: 54 Cumberland Street, Brooklyn, New York
- Market: Brooklyn
- Square Footage: 6,264 sf
- Price Per Square Foot: $539
- Number of Units: 8
- Price Per Unit: $421,000
The seller of the property was 54 Cumberland Street LLC, represented by Mike Tomlin. The buyer, Duke Properties, was represented by Albert Dweck.
On the Map
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93