Ari Harkov Represents Buyer In $5.03M Multifamily Sale In Queens & Brooklyn
580 Fairview Avenue & 212 Saint Nicholas Avenue
$5,035,000
$479/SF
Building Size
10,500 SF
Asset Type
MultiFamily
Closing
May 22, 2024
AI
The multifamily property located at 580 Fairview Avenue in Ridgewood, Queens, and 212 Saint Nicholas Avenue in Bushwick, Brooklyn, was recently sold for $5,035,000. The property consists of 8 units with a total square footage of 5,250. The price per unit was $629,375, and the price per square foot was $959.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,035,000
- Address: 580 Fairview Avenue & 212 Saint Nicholas Avenue
- Market: Ridgewood, Queens & Bushwick, Brooklyn
- Units: 8
- Price per Unit: $629,375
- Total Square Footage: 5,250
- Price per Square Foot: $959
- Buyer's Representative: Ari Harkov - Brown Harris Stevens
- Seller's Representative: Joseph Rosenfeld & Baruch Edelkopf - Schuckman Realty
Ari Harkov from Brown Harris Stevens represented the buyer in this transaction, while Joseph Rosenfeld and Baruch Edelkopf from Schuckman Realty acted as the seller's representatives. The involvement of these experienced individuals highlights their roles in facilitating the successful sale of the multifamily property across two vibrant neighborhoods in Queens and Brooklyn.
Players
Ridgewood 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
3.15%
Cash-on-Cash
-0.90%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93