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56 Pierrepont Street

Updated Dec 4, 2024

Ravi Kantha & Matthew Lesser Sell Brooklyn Heights Multifamily For $3.9M
SOLDMultiFamily

Ravi Kantha & Matthew Lesser Sell Brooklyn Heights Multifamily For $3.9M

56 Pierrepont Street

$3,900,000

$482/SF

Building Size

8,086 SF

Asset Type

MultiFamily

Closing

Sep 26, 2023

About this deal

AI

Located at 56 Pierrepont Street in Brooklyn Heights, this multifamily property has recently been sold. The property consists of 13 units, with a per unit price of $300,000. The total square footage of the property is 8,086, resulting in a price per square foot of $482. The sale was facilitated by Ravi Kantha and Matthew Lesser of Leslie Garfield. The transaction amount for this sale was $3,900,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,900,000
  • Units: 13
  • Price per Unit: $300,000
  • Square Footage: 8,086
  • Price per Square Foot: $482
  • Seller's Representatives: Ravi Kantha and Matthew Lesser of Leslie Garfield

Ravi Kantha and Matthew Lesser, representing Leslie Garfield, played a crucial role in the successful completion of this transaction in Brooklyn Heights. Their expertise and negotiation skills contributed to the sale price of $3,900,000 for this multifamily property. Both Kantha and Lesser have a deep understanding of the local market and possess extensive experience in handling similar real estate deals.

On the Map

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$3,900,000

$482/SF

MultiFamily

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Players

Matthew Lesser

Leslie Garfield

Broker

$579.5M

vol

40 deals

Broker
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Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $482 per square foot on a published $3.9M for 8,086 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.07%

Cash-on-Cash

-1.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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