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580 Fairview Avenue

Ari Harkov Represents Buyer In $5.03M Multifamily Sale In Queens & Brooklyn
SOLDMultiFamily

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

Ari Harkov

Brown Harris Stevens

Broker

$429.1M

vol

86 deals

Broker

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