Updated Dec 19, 2023
Brandon Hurst Acquires 3-Unit Multifamily Property In Prospect Heights For $1.8M
656 Classon Avenue, Brooklyn, New York 11238, United States
$1,800,000
$571/SF
Building Size
3,150 SF
Asset Type
MultiFamily
Closing
Apr 12, 2022
About this deal
AI
Located at 656 Classon Ave. in Prospect Heights, this multifamily property was recently sold for $1,800,000. With a total of 3 units, each unit was sold at an average price of $600,000. The property spans across 3,150 square feet, resulting in a price per square foot of $571.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,800,000
- Address: 656 Classon Ave.
- Market: Prospect Heights
Brandon Hurst acquired the property from Marlon Bynum. Represented by Jean Alerte from Compass, Brandon successfully closed the deal.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93