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Andrew Zafir Acquires Bay Ridge Multifamily Property For $6.7M From Bronstein Properties
SOLD
$6,700,000
New York
See Similar DealsMultiFamily28,632 SF
Sold 06/26/2023
SOLD
Andrew Zafir Acquires Bay Ridge Multifamily Property For $6.7M From Bronstein Properties
545 85th Street Brooklyn, New York 11209, USA
See Similar DealsMultiFamily28,632 SF
Sold 06/26/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$234
Total Square Footage:28,632 SF
Transaction Type:Sale
Andrew Zafir has acquired a 43-unit residential walkup building in Brooklyn's Bay Ridge neighborhood for $6.7 million from Bronstein Properties. The property, located at 545 85th Street, offers 27,700 square feet of built space.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,700,000
- Units: 43
- Price Per Unit: $155,814
- Square Footage: 27,700
- Price Per Square Foot: $242
- Address: 545 85th Street, Bay Ridge, Brooklyn
- Market: Bay Ridge, Brooklyn
The buyer in this transaction is Andrew Zafir, while the seller is Bronstein Properties represented by Barry Rudofsky.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$357,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,803.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,761.42
Annual Debt Service$381,137.02
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