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Ari Harkov Acquires Greenpoint Multifamily On Morgan Ave For $9.5M

Property Image
SOLD
$9,457,263
Fred Bijou
Ari Harkov

New York

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MultiFamily2,907 SF
Sold 04/20/2022
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Property Image
SOLD

Ari Harkov Acquires Greenpoint Multifamily On Morgan Ave For $9.5M

569 Morgan Avenue, Brooklyn, New York 11222, United States

See Similar Deals
MultiFamily2,907 SF
Sold 04/20/2022
Fred Bijou
Ari Harkov
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$3,253
Total Square Footage:2,907 SF
Transaction Type:Sale

The multifamily asset located at 569 Morgan Avenue, Brooklyn, New York 11222, in the Greenpoint market was sold for a total price of $9,457,263.00. The property comprises a total area of 2,907 square feet.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $9,457,263.00
  • Address: 569 Morgan Avenue, Brooklyn, New York 11222, United States
  • Market: Greenpoint, Brooklyn
  • Square Footage: 2,907.0
  • Broker Representatives: Ari Harkov - Brown Harris Stevens, Fred Bijou - Bijou Equities

The transaction involved the representation of the buyers and sellers by Ari Harkov from Brown Harris Stevens and Fred Bijou from Bijou Equities. The successful completion of this sale reflects the contributions of both broker representatives in facilitating the deal.

Players

Fred Bijou
Bijou Equities
Fred Bijou
33 deals$107.3M volume(917) 626-8413
BROKER
Ari Harkov
Brown Harris Stevens
Ari Harkov
86 deals$429.1M volume(212) 381-4246
BROKER

Details

SOLD
IMAGE: Ari Harkov DATE: 04/20/2022 ADDRESS: 569, 599 &; 562A Morgan Avenue MARKET: Greenpoint ASSET TYPE: Multifamily BUYER'S REP: Ari Harkov (@AriHarkov) (The Harkov Lewis Team) (@HarkovLewisTeam) - Brown Harris Stevens (@BrownHarrisStevens) SELLER'S REP: Fred Bijou - Bijou Equities LLC SALE PRICE: $9,457,263 UNITS: 10 ~ PPU: $945,726 SF: 10,427 ~ PPSF: $906

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

$504,387.36

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$33,599.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$44,832.25
Annual Debt Service$537,987.02