Jason Johnson Acquires Multifamily Property In Windsor Terrace For $1.5M
603 18th Street
$1,500,000
$1,000/SF
Building Size
1,500 SF
Asset Type
MultiFamily
Closing
Feb 29, 2024
AI
The multifamily property located at 603 18th Street in Windsor Terrace, Brooklyn, was sold for $1,500,000. This property consists of 2 units with a total square footage of 1,500, resulting in a price per unit of $750,000 and a price per square foot of $1,000. The sale was brokered by Roni Yaghoobzar from Safdie Realty Group, representing the seller, Lazar Waldman, in the transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,500,000
- Units: 2
- Square Footage: 1,500
- Price per Unit: $750,000
- Price per Square Foot: $1,000
- Market: Windsor Terrace, Brooklyn
- Buyer: Jason Johnson
Roni Yaghoobzar from Safdie Realty Group was the broker for the seller in this transaction, managing to secure a sale price that was $50,000 over the initial asking price of $1,450,000. Despite the property being occupied by two paying tenants, the deal was successfully closed with a higher sale price.
Brooklyn 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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93