Updated Dec 21, 2023
Stamatios D Mamounas Acquires Multifamily Property In Sunset Park For $7M
601 40th Street, Sunset Park, Brooklyn, NY, USA
$7,000,000
$219/SF
Building Size
31,954 SF
Asset Type
MultiFamily
Closing
Sep 13, 2021
About this deal
AI
A multifamily property located at 601 40 Street in the Sunset Park market has been sold for $7,000,000. The property has a building square footage (BSF) of 20,034, resulting in a price per BSF of $349. The total lot size is 10,017 square feet, with dimensions of 100.17 ft x 100 ft. The property is zoned as R6B and has a floor area ratio (FAR) of 3.19. The transaction took place on September 14, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,000,000
- Square Footage: 31,954
- Price per Square Foot (PPSF): $219
- Tax Class: 2
Stamatios D Mamounas purchased the property from Linda N Eskander. The buyer was represented by their broker, Stamatios D Mamounas - AGENCY (Note: If the CONTEXT does not specify the buyer's broker, omit this sentence).
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93