Travis Stabler Acquires Bed-Stuy Multifamily For $15.5M With Capital Property Partners
SOLD
$15,500,000
New York
See Similar DealsMultiFamily50,000 SF
Sold 07/02/2019
SOLD
Travis Stabler Acquires Bed-Stuy Multifamily For $15.5M With Capital Property Partners
609 Throop Ave, Brooklyn, NY 11216, USA
See Similar DealsMultiFamily50,000 SF
Sold 07/02/2019
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$310
Total Square Footage:50,000 SF
Transaction Type:Sale
Located in the desirable Bed-Stuy neighborhood of Brooklyn, this multifamily property at 609-619 Throop Avenue has recently been sold in a closed transaction. The property spans across 50,000 square feet and offers a variety of residential units. The asset type of this property is multifamily, making it an attractive investment opportunity.
Summary of transaction details:
- Property Type: Multifamily
- Asking Price: $16,000,000
- Sale Price: $15,500,000
- Square Footage: 50,000
- Price per Square Foot: $310
- Market: Bed-Stuy, BK
The seller of this property was Mark Tress, while the buyer was Travis Stabler. The deal was facilitated by the brokerage firm Capital Property Partners, with Daniel Rahmani serving as the representative for the buyer and seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$826,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$55,068.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,477.91
Annual Debt Service$881,734.89
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