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

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SOLD
$3,900,000

New York

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MultiFamily8,086 SF
Sold 09/26/2023
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Property Image
SOLD

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

56 Pierrepont Street

See Similar Deals
MultiFamily8,086 SF
Sold 09/26/2023
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$482
Total Square Footage:8,086 SF
Transaction Type:Sale

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.

Players

Matthew "Matt" Lesser
40 deals$579.5M volume
BROKER

Ravi Kantha
Serhant
31 deals$409M volume(914) 224-2191
BROKER

Details

SOLD
IMAGE: Ravi Kantha & Matthew Lesser DATE: 09/26/2023 ADDRESS: 56 Pierrepont Street MARKET: Brooklyn Heights ASSET TYPE: Multifamily SELLER'S REP: Ravi Kantha (@TheTownhouseGuy) & Matthew Lesser (@TheTownhouser) - Leslie Garfield (@LeslieJGarfield) SALE PRICE: $3,900,000 UNITS: 13 ~ PPU: $300,000 SF: 8,086 ~ PPSF: $482

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$208,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88