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66 Stanhope Street, Brookly...

Updated Dec 21, 2023

Charles Ahearn Acquires Multifamily Property In Bushwick, Brooklyn For $3.75M
SOLDMultiFamily

Charles Ahearn Acquires Multifamily Property In Bushwick, Brooklyn For $3.75M

66 Stanhope Street, Brooklyn, New York 11221, United States

$3,750,000

$767/SF

Building Size

4,886 SF

Asset Type

MultiFamily

Closing

Oct 5, 2022

About this deal

AI

Situated at 66 Stanhope Street in Bushwick, Brooklyn, this closed multifamily property transaction took place on October 6, 2022. The property, which falls under zoning category R6, spans a lot size of 6,185 square feet, with dimensions measuring 49.5 feet by 125.08 feet.

Summary of transaction details:

  • Property Type: Multifamily
  • Address: 66 Stanhope Street, Bushwick, Brooklyn
  • Market: Bushwick, Brooklyn
  • Buyer: Charles Ahearn
  • Seller: Sally Nichols Ross
  • Price: $3,750,000
  • Building Square Footage (BSF): 15,030
  • Price per Building Square Foot (PPBSF): $249
  • Lot Size: 6,185 square feet
  • Permits: Alteration 1 (05/29/2009)
  • Lot Dimension: 49.5 ft x 125.08 ft

Charles Ahearn emerged as the buyer in this transaction, representing himself. Sally Nichols Ross, on the other hand, acted as the seller. The property was sold for a total of $3,750,000, with a Building Square Footage (BSF) of 15,030 and a Price per Building Square Foot (PPBSF) of $249.

Players

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $767 per square foot on a published $3.8M for 4,886 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.23%

Cash-on-Cash

-1.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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