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Harvey M. Schwartz And Greg Fournier Acquire Multifamily Building In Brooklyn For $4.2M
SOLD
$4,200,000
New York
See Similar DealsMultiFamily5,660 SF
Sold 12/30/2025
SOLD
Harvey M. Schwartz And Greg Fournier Acquire Multifamily Building In Brooklyn For $4.2M
647 De Kalb Avenue
See Similar DealsMultiFamily5,660 SF
Sold 12/30/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$742
Total Square Footage:5,660 SF
Transaction Type:Sale
A multifamily residential building located at 647 De Kalb Avenue in Bedford Stuyvesant, Brooklyn, was sold for $4,200,000. The asset encompasses a total of 5,660 square feet, resulting in a price per square foot of $742.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,200,000
- Address: 647 De Kalb Avenue
- Market: Bedford Stuyvesant, Brooklyn
- Square Footage: 5,660
- Price per Square Foot: $742
- Buyer: Harvey M. Schwartz - Carlyle Group & Greg Fournier - Greenbrook Partners
- Seller: TrueStone
The transaction was facilitated by Carlyle Group and Greenbrook Partners through Townhouse Rental II LLC, acquiring the eight-unit residential building from TrueStone.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$223,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,921.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,910.14
Annual Debt Service$238,921.71
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