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70 Wyckoff Avenue

Nathan Obstfeld Acquires Multifamily Property On Wyckoff Avenue For $12.775M
SOLDMultiFamily

Nathan Obstfeld Acquires Multifamily Property On Wyckoff Avenue For $12.775M

70 Wyckoff Avenue

$12,775,000

$208/SF

Building Size

61,356 SF

Asset Type

MultiFamily

Closing

May 10, 2024

AI

The multifamily property located at 70 Wyckoff Avenue in Bushwick, Brooklyn was sold for $12,775,000. The property comprises 50 units with a price per unit of $255,500. The total square footage of the property is 61,356, translating to a price per square foot of $208.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $12,775,000
  • Units: 50
  • Price Per Unit: $255,500
  • Square Footage: 61,356
  • Price Per Square Foot: $208
  • Address: 70 Wyckoff Avenue, Bushwick, Brooklyn
  • Market: Bushwick, Brooklyn
  • Buyer: Nathan Obstfeld
  • Seller: Goldman Family
  • Brokers: Shaun Riney, Michael Salvatico & Daniel Greenblatt - Marcus & Millichap

The sale of the property was facilitated through the representation of Shaun Riney, Michael Salvatico, and Daniel Greenblatt from Marcus & Millichap. Nathan Obstfeld acquired the property from the Goldman Family in this transaction.

Players

Michael Salvatico

Marcus & Millichap

Broker

$805.2M

vol

178 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

364 deals

Broker

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.24%

Cash-on-Cash

-0.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93