Updated Oct 28, 2024
The Gerber Family Acquires Multifamily Property In Prospect Heights For $4.4M
592 Vanderbilt Avenue, Brooklyn, New York 11238, United States
$4,395,000
$526/SF
Building Size
8,348 SF
Asset Type
MultiFamily
Closing
May 26, 2022
About this deal
AI
The multifamily property located at 592 Vanderbilt Ave. in Prospect Heights, Brooklyn has been sold in a recent transaction. The property consists of 8 units and spans a total area of 8,360 square feet. The sale price for the property was $4,395,000, resulting in a price per unit of $549,375 and a price per square foot of $525. The transaction took place on 05/27/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,395,000
- Units: 8
- Price per Unit: $549,375
- Total Square Footage: 8,360
- Price per Square Foot: $525
- Address: 592 Vanderbilt Ave.
- Market: Prospect Heights, Brooklyn
The buyer of the property is The Gerber Family, while Legacy Equities acted as the seller. The deal was facilitated by Andrew Bronsteen and Shaun Riney from Marcus & Millichap, who represented their respective parties in the transaction.
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
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93