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603 18th Street

Jason Johnson Acquires Multifamily Property In Windsor Terrace For $1.5M
SOLDMultiFamily

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.

Players

Roni Yaghoobzar

Safdie Realty Group

Broker

$25.8M

vol

15 deals

Broker

Brooklyn 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

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93