Updated Dec 21, 2023
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
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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