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
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%.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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