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Drew Popkin Acquires Multifamily Property In Prospect Heights, Brooklyn For $3.16M

Property Image
SOLD
$3,165,000
Peter Von Der Ahe
Shaun Riney
+ 1

New York

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MultiFamily8,480 SF
Sold 07/23/2020
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Property Image
SOLD

Drew Popkin Acquires Multifamily Property In Prospect Heights, Brooklyn For $3.16M

543 Bergen St, Brooklyn, NY 11217, USA

See Similar Deals
MultiFamily8,480 SF
Sold 07/23/2020
Peter Von Der Ahe
Shaun Riney
+ 1
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$373
Total Square Footage:8,480 SF
Transaction Type:Sale

The multifamily property located at 543 Bergen Street in Prospect Heights, Brooklyn, was recently sold for a price of $3,165,000. The property spans across 8,480 square feet, resulting in a price per square foot of $373. The building consists of 8 units, with each unit selling at an average price of $395,625.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,165,000
  • Square Footage: 8,480
  • Price Per Square Foot: $373
  • Number of Units: 8
  • Price Per Unit: $395,625
  • Address: 543 Bergen Street, Prospect Heights, Brooklyn

The seller of the property was Alice Leon, while the buyer was Drew Popkin. The transaction was facilitated by Peter Von Der Ahe, Shaun Riney, and Andrew Bronsteen from New York Multifamily and Marcus & Millichap NY.

Players

Andrew Bronsteen
64 deals$257.5M volume
BROKER

Peter Von Der Ahe
Marcus & Millichap
110 deals$1.4B volume
BROKER

Shaun Riney
Marcus & Millichap
355 deals$1.8B volume(718) 475-4369
BROKER


11 deals$78.1M volume
BUYER

Details

SOLD
IMAGE: IMAGE: Peter Von Der Ahe, Shaun Riney, Andrew Bronsteen DATE: 07/23/2020 ADDRESS: 543 Bergen Street MARKET: Prospect Heights, Brooklyn ASSET TYPE: Multifamily SALE PRICE: $3,165,000 SF: 8,480 PPSF: $373 UNITS: 8 PPU: $395,625 SELLER: Alice Leon BUYER: Drew Popkin BROKERS: Peter Von Der Ahe, Shaun Riney, Andrew Bronsteen @NewYorkMultifamily @MarcusMillichap_NY

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

$168,799.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,244.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,003.71
Annual Debt Service$180,044.58