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Emad Sohail Acquires Multifamily Property In Cypress Hills For $995K

Property Image
SOLD
$995,000
Jacob Ashkenazie
Marc Richter

New York

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MultiFamily2,800 SF
Sold 05/06/2022
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Property Image
SOLD

Emad Sohail Acquires Multifamily Property In Cypress Hills For $995K

568 Pine Street, Brooklyn, New York 11208, United States

See Similar Deals
MultiFamily2,800 SF
Sold 05/06/2022
Jacob Ashkenazie
Marc Richter
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$355
Total Square Footage:2,800 SF
Transaction Type:Sale

A multifamily property located at 568 Pine St. in Cypress Hills has been sold. The property consists of a 2,800 square foot building with 4 units. The sale price for the property was $995,000, resulting in a price per unit of $248,750. The price per square foot is $355, and the cap rate is 7.4%.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $995,000
  • Units: 4
  • Price per Unit: $248,750
  • Square Footage: 2,800
  • Price per Square Foot: $355
  • Cap Rate: 7.4%
  • Market: Cypress Hills

The buyer of the property is Emad Sohail, while the seller is Bibi Khan. Marc Richter and Jacob Ashkenazie from Commerce Realty Group represented the seller in this transaction.

Interested in their newest deal? Commerce Realty Group has just listed a 24-unit multifamily property on Steinway Street. You can reach out to them for more information on this off-market exclusive.

Players

Jacob Ashkenazie
Jacob Ashkenazie
5 deals$8.9M volume
BROKER
Marc Richter
Marc Richter
7 deals$12.8M volume(646) 342-8959
BROKER

Details

SOLD
IMAGE: Jacob Ashkenazie & Marc Richter DATE: 05/06/2022 ADDRESS: 568 Pine St. MARKET: Cypress Hills ASSET TYPE: Multifamily BUYER: Emad Sohail SELLER: Bibi Khan SELLER'S REP: Marc Richter & Jacob Ashkenazie (@Jacob_Ash1) - Commerce Realty Group (@CommerceRealtyGroup) SALE PRICE: $995,000 UNITS: 4 ~ PPU: $248,750 SF: 2,800 ~ PPSF: $355 CAP: 7.4% NOTE FROM @CommerceRealtyGroup: 2,800 SF building, $355 psf, 7.4% CAP. Interested in our newest deal? We just listed a 24 unit multifamily on Steinway Street! DM us for this off market exclusive!

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

$53,066.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,535.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,716.81
Annual Debt Service$56,601.69