Updated May 16, 2025
Kumar Family Acquires Red Hook Multifamily For $1.63M With Brokers From Atlas Realty Group
692 Henry Street, New York City, New York 10002, United States
$1,625,000
$325/SF
Building Size
5,000 SF
Asset Type
MultiFamily
Closing
Apr 25, 2022
About this deal
AI
The property asset involved in this transaction is a multifamily building located at 692 Henry St. in the Red Hook market. The sale price was $1,625,000 for an asset consisting of 8 units. The total square footage of the property is 5,000, resulting in a price per unit of $203,125 and a price per square foot of $325.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,625,000
- Units: 8
- Square Footage: 5,000
- Price Per Unit: $203,125
- Price Per Square Foot: $325
- Buyer: Kumar Family
- Seller: Kelly Family
- Brokers: Shlomo Antebi, Yosef Katz, Erik Yankelovich & Sam Schwartz - Atlas Realty Group Partners LLC
The deal was facilitated by a team of brokers from Atlas Realty Group Partners LLC, comprising Shlomo Antebi, Yosef Katz, Erik Yankelovich, and Sam Schwartz, who represented both the buyer, the Kumar Family, and the seller, the Kelly Family, in this transaction.
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
9.76%
Cash-on-Cash
-2.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93