Updated Feb 21, 2025
Peak Capital Real Estate Acquires Multifamily Property In Brooklyn Heights For $4.5M
70 Middagh Street, Brooklyn, NY, USA
$4,500,000
$494/SF
Building Size
9,102 SF
Asset Type
MultiFamily
Closing
Jun 21, 2021
About this deal
AI
The multifamily property located at 70 Middagh Street in Brooklyn Heights has been sold for a price of $4,500,000. The property consists of 11 units, with each unit priced at approximately $409,090. The total square footage of the property is 9,102, resulting in a price per square foot of $494.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $4,500,000
- Units: 11
- Price Per Unit: $409,090
- Square Footage: 9,102
- Price Per Square Foot: $494
- Market: Brooklyn Heights
Peak Capital Real Estate, represented by Alex Rabin and David Gomez, acted as the buyer in this transaction. The seller's representatives were Justin Conway and Ron Cohen, who represented Besen 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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93