Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$518
Total Square Footage:5,880 SF
Transaction Type:Sale
The property asset involved in the transaction is a multifamily building located at 701 Franklin Avenue, Brooklyn. The sale price for the property was $3,050,000, with a total square footage of 5,880 and a price per square foot of $518.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,050,000
- Address: 701 Franklin Avenue
- Market: Brooklyn
- Square Footage: 5,880
- Price per Square Foot: $518
- Buyer: James Grasso
- Seller: McCaulley Family
- Broker: Adam Traub - Curb Capital
The deal involved James Grasso as the buyer and the McCaulley Family as the seller. Adam Traub represented the transaction through Curb Capital, facilitating the exchange of this multifamily asset in the Brooklyn market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$162,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,836.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,458.56
Annual Debt Service$173,502.67
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