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The Zafir Family Acquires Bay Ridge Multifamily For $6.7M With Brokers Shaun Riney, Mark Zarrella & Seth Glasser

Property Image
SOLD
$6,715,000
Seth Glasser
Mark Zarrella
Shaun Riney

New York

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MultiFamily28,632 SF
Sold 06/26/2023
the dealplayerscompscontact
Property Image
SOLD

The Zafir Family Acquires Bay Ridge Multifamily For $6.7M With Brokers Shaun Riney, Mark Zarrella & Seth Glasser

545 85th Street Brooklyn, New York 11209, USA

See Similar Deals
MultiFamily28,632 SF
Sold 06/26/2023
Seth Glasser
Mark Zarrella
Shaun Riney
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$234
Total Square Footage:28,632 SF
Transaction Type:Sale

A multifamily property located at 545 85th Street in Bay Ridge has been sold for a total of $6,715,000. The property spans a total of 28,632 square feet, resulting in a price per square foot of $235. It consists of 43 units, with a price per unit of $156,163.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $6,715,000
  • Address: 545 85th Street
  • Market: Bay Ridge

The Zafir Family has acquired the property as the buyer in this transaction. They were represented by the brokers Shaun Riney, Mark Zarrella, and Seth Glasser from Marcus & Millichap.

Players

Seth Glasser
Marcus & Millichap
Seth Glasser
125 deals$1.1B volume
BROKER
Mark Zarrella
Marcus & Millichap
Mark Zarrella
38 deals$262.2M volume(718) 475-4376
BROKER
Shaun Riney
Marcus & Millichap
Shaun Riney
357 deals$1.8B volume(718) 475-4369
BROKER
J.P. Morgan Chase
J.P. Morgan Chase
SELLER
J.P. Morgan Chase
J.P. Morgan Chase
LENDER

Details

SOLD
IMAGE: Mark Zarrella, Shaun Riney & Seth Glasser DATE: 06/26/2023 ADDRESS: 545 85th Street MARKET: Bay Ridge ASSET TYPE: Multifamily BUYER: The Zafir Family BROKERS: Shaun Riney (@ShaunRiney1), Mark Zarrella (@MarkZarrella) & Seth Glasser (@SethGlasser1) - Marcus & Millichap (@MarcusMillichap_NY) SALE PRICE: $6,715,000 SF: 28,632 ~ PPSF: $235 UNITS: 43 ~ PPU: $156,163

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$23,856.98
Cash-on-Cash Return-1.27%
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