Updated Dec 19, 2023
Israel Gold Acquires Apartment Building In Bushwick For $3.35M
18A Bleecker St, Brooklyn, NY 11221, USA
$2,500,000
$398/SF
Building Size
6,278 SF
Asset Type
MultiFamily
Closing
Aug 6, 2019
About this deal
AI
An apartment building located at 59 Grove Street in Bushwick, Brooklyn, has been sold in a recent transaction. The property, situated in an R6 zoning district, features a total building area of 8,505 square feet and a price per buildable square foot of $393. The sale price for the property was $3,350,000, with a total square footage of 8,995 and a price per square foot of $372.
Summary of transaction details:
- Property Type: Apartment
- Transaction Amount: $3,350,000
- Market: Bushwick, Brooklyn
- Zoning: R6
- Buyer: Israel Gold
- Seller: Joel Waldman
- Building Area: 8,505 square feet
- Price per Buildable Square Foot: $393
- Total Square Footage: 8,995
- Price per Square Foot: $372
- FAR: 2.57
- Tax Class: 2
- Lot Size: 3,500 square feet
- Permits: Alteration 1 (11/01/2012)
- Lot Dimension: 40 ft x 87.5 ft
The buyer of the property is Israel Gold, while the seller is Joel Waldman. The lot size of the property is 3,500 square feet, and it is classified under tax class 2. The property has a FAR (Floor Area Ratio) of 2.57 and obtained an alteration permit on November 1, 2012. The lot dimension measures 40 feet by 87.5 feet.
Players
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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93