Partners Path Sells Multifamily Property In Greenpoint, Brooklyn For $3.65M With Marcus & Millichap<br>
590 Leonard St Brooklyn, NY 11222, USA
$3,650,000
$697/SF
Building Size
5,235 SF
Asset Type
MultiFamily
Closing
Jun 21, 2023
AI
The multifamily property located at 590 Leonard Street in Greenpoint, Brooklyn, was recently sold for $3,650,000. The asset consists of 6 units with a price per unit of $608,333. The total square footage of the property is 5,235, equating to a price per square foot of $697.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,650,000
- Units: 6
- Price Per Unit: $608,333
- Square Footage: 5,235
- Price Per Square Foot: $697
- Address: 590 Leonard Street
- Market: Greenpoint, Brooklyn
- Seller: Partners Path
- Brokers: Shaun Riney, Michael Salvatico & Samuel Leppo - Marcus & Millichap
The sale was facilitated by Shaun Riney, Michael Salvatico, and Samuel Leppo of Marcus & Millichap. These brokers played a crucial role in negotiating and closing the deal for the multifamily property, showcasing their expertise in the real estate market.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.35%
Cash-on-Cash
-1.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93