Miller Family Acquires Multifamily Property In Brooklyn From Delshah Capital For $2.4M
SOLD
$2,400,000
New York
See Similar DealsMultiFamily4,500 SF
Sold 08/30/2024
SOLD
Miller Family Acquires Multifamily Property In Brooklyn From Delshah Capital For $2.4M
590 Bushwick Avenue
See Similar DealsMultiFamily4,500 SF
Sold 08/30/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$533
Total Square Footage:4,500 SF
Transaction Type:Sale
The property involved in this transaction is a multifamily asset located at 590 Bushwick Avenue in Brooklyn. It was sold for a total price of $2,400,000 and encompasses a building size of 4,500 square feet. The price per square foot for the transaction amounted to $533.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,400,000
- Address: 590 Bushwick Avenue
- Market: Brooklyn
- Square Footage: 4,500
- Price Per Square Foot: $533
- Buyer: Miller Family
- Seller: Delshah Capital
- Broker Representatives: Lev Mavashev, Ben Normatov & Eli Yusupov - Alpha Realty
Lev Mavashev, Ben Normatov, and Eli Yusupov from Alpha Realty represented the transaction, facilitating the sale between the buyer, the Miller Family, and the seller, Delshah Capital. Their roles were crucial in navigating the deal's complexities.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$127,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,526.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,377.22
Annual Debt Service$136,526.69
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