Updated Oct 29, 2024
Andrew Zafir Acquires Bay Ridge Multifamily Property For $6.7M From Bronstein Properties
545 85th Street Brooklyn, New York 11209, USA
$6,700,000
$234/SF
Building Size
28,632 SF
Asset Type
MultiFamily
Closing
Jun 26, 2023
About this deal
AI
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.
On the Map
$6,700,000
$234/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.37%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93