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65 South Elliott Place, For...

Walter Catesby Perrin III Acquires Multifamily Property On South Elliott Place For $5.03M
SOLDMultiFamily

Walter Catesby Perrin III Acquires Multifamily Property On South Elliott Place For $5.03M

65 South Elliott Place, Fort Greene, Brooklyn, NY, USA

$5,030,000

$1,337/SF

Building Size

3,760 SF

Asset Type

MultiFamily

Closing

Sep 13, 2021

AI

A multifamily property located at 65 South Elliott Place in the SFR market has been sold for $5,030,000. The property, with a lot size of 2,000 square feet and a FAR of 1.88, is zoned R6B and falls under tax class 1. The building has a total square footage of 3,760, with a building square footage (BSF) of 4,000. The price per building square footage (PPBSF) is $1,257, and the price per square foot (PPSF) is $1,337. The last recorded sale of this property was on March 23, 2011, for $869,000. It underwent an alteration permit on May 11, 2012.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $5,030,000
  • Address: 65 South Elliott Place
  • Market: SFR
  • Zoning: R6B
  • Lot Size: 2,000 square feet
  • Building Square Footage (BSF): 4,000
  • Price per Building Square Footage (PPBSF): $1,257
  • Total Square Footage (SF): 3,760
  • Price per Square Foot (PPSF): $1,337
  • FAR: 1.88
  • Tax Class: 1
  • Last Sale Price: $869,000 (recorded on March 23, 2011)
  • Permits: Alteration 1 (issued on May 11, 2012)

The buyer in this transaction is Walter Catesby Perrin III, and the seller is Matthew Rosenzweig. The deal was facilitated by Paul Murphy from Compass.

Players

Paul Murphy

Compass

Broker

$7.4M

vol

2 deals

Broker

Walter Catesby Perrin III

Buyer

$9.1M

vol

2 deals

Buyer

New York 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

3.15%

Cash-on-Cash

-0.90%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93