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7001 Shore Road

Updated Dec 4, 2024

Brandon Lau's Urban Waterfront Development Acquires MultiFamily Building In Bay Ridge, Brooklyn For $2.1M
SOLDMultiFamily

Brandon Lau's Urban Waterfront Development Acquires MultiFamily Building In Bay Ridge, Brooklyn For $2.1M

7001 Shore Road

$2,100,000

$944/SF

Building Size

2,224 SF

Asset Type

MultiFamily

Closing

Oct 11, 2023

About this deal

AI

Urban Waterfront Development, represented by founder and project director Brandon Lau, acquired a three-unit building at 7001 Shore Road in Bay Ridge, Brooklyn, for $2.1 million. The property is a multifamily asset with a total building size of 4,884 square feet, resulting in a price per square foot of $430. The building itself spans across a total of 2,224 square feet, giving it a price per square foot of $944.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $2,100,000
  • Address: 7001 Shore Road, Bay Ridge, Brooklyn
  • Market: Bay Ridge, Brooklyn
  • Buyer: Brandon Lau - Urban Waterfront Development LLC
  • Seller: Nadine Dandan & Jeffrey Goldstein
  • Building Size: 4,884 square feet (PPBSF: $430)
  • Total Size: 2,224 square feet (PPSF: $944)

The acquisition was made by Urban Waterfront Development, a company led by Brandon Lau. Nadine Dandan and Jeffrey Goldstein were the sellers in this transaction. The deal took place in Bay Ridge, Brooklyn, where the three-unit building is located at 7001 Shore Road.

Players

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $944 per square foot on a published $2.1M for 2,224 square feet (2023).

Browse Brooklyn multifamily sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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