Updated Dec 21, 2023
Emad Sohail Acquires Multifamily Property In Cypress Hills For $995K
568 Pine Street, Brooklyn, New York 11208, United States
$995,000
$355/SF
Building Size
2,800 SF
Asset Type
MultiFamily
Closing
May 5, 2022
About this deal
AI
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.
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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
15.94%
Cash-on-Cash
-4.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93