Updated Oct 29, 2024
Duke Properties Acquires Multifamily Property In Ditmas Park, Brooklyn For $2.6M
624 East 17th Street
$2,600,000
$419/SF
Building Size
6,200 SF
Asset Type
MultiFamily
Closing
Jan 30, 2023
About this deal
AI
A multifamily property located at 624 East 17th Street in Ditmas Park, Brooklyn, has been sold for $2,600,000. The building offers 6,200 square feet of space, resulting in a price per square foot of $419. The transaction took place on January 30, 2023.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,600,000
- Address: 624 East 17th Street
- Market: Ditmas Park, Brooklyn
- Square Footage: 6,200
- Price per Square Foot: $419
The buyer, Duke Properties, acquired the property from the seller, Obtsfeld Family. The transaction was facilitated by Marcel Fridman from Barcel Group, acting as the broker. It is worth noting that the building was delivered fully vacant, providing the buyer with flexibility in its future use.
On the Map
$2,600,000
$419/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93