Updated Sep 5, 2024
Marcus & Millichap Brokers $3.1M Sale Of Multifamily Property In Crown Heights, Brooklyn
55 Brooklyn Avenue
$3,100,000
$322/SF
Building Size
9,600 SF
Asset Type
MultiFamily
Closing
Sep 21, 2022
About this deal
AI
The multifamily property located at 55 Brooklyn Ave. in Crown Heights, Brooklyn has been sold for a total price of $3,100,000. The property spans 9,600 square feet, resulting in a price per square foot of $322. The transaction took place on September 21, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,100,000
- Address: 55 Brooklyn Ave.
- Market: Crown Heights, Brooklyn
- Square Footage: 9,600
The sellers of the property were the Landes Family. The deal was facilitated by the brokers Dan Greenblatt, Shaun Riney, and Zalman Yarmush from Marcus & Millichap. Additional information from the broker includes a Cap Rate of 5.5, a Proforma Cap of 6.9, and an FM of 56%.
On the Map
$3,100,000
$322/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93