Updated Dec 21, 2023
The Hobgood Family Acquires Multifamily Property In Bay Ridge, Brooklyn For $3.75M
6647 Bergen Place, Brooklyn, NY 11220
$3,750,000
$269/SF
Building Size
13,920 SF
Asset Type
MultiFamily
Closing
Apr 26, 2021
About this deal
AI
The multifamily property located at 6647 Bergen Place in Bay Ridge, Brooklyn, has been sold in a recent transaction. The sale took place on April 27, 2021, with a sale price of $3,750,000. The property spans 13,920 square feet, resulting in a price per square foot of $269. It consists of 19 units, with an average price per unit of $197,368.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,750,000
- Square Footage: 13,920
- Price Per Square Foot: $269
- Address: 6647 Bergen Place, Bay Ridge, Brooklyn
The buyer of the property is the Hobgood Family, while the seller is George Poulakakos. The deal was facilitated by brokers Shlomo Antebi, Yosef Katz, Erik Yankelovich, and Natan Safdieh from ARG_NYC - Atlas Realty Group Partners.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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