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Investment Property Realty Group Acquires Renovated 2-Family Multifamily In Bushwick, Brooklyn For $2.1M

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SOLD
$1,050,000

New York

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MultiFamily42,400 SF
Sold 11/21/2019
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Property Image
SOLD

Investment Property Realty Group Acquires Renovated 2-Family Multifamily In Bushwick, Brooklyn For $2.1M

89 Moffat St, Brooklyn, NY 11207, USA

See Similar Deals
MultiFamily42,400 SF
Sold 11/21/2019
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$24
Total Square Footage:42,400 SF
Transaction Type:Sale

A multifamily property located at 70A Cooper St in Bushwick, Brooklyn was recently sold for a price of $2,100,000. The property consists of 2 units with a total square footage of 2,634. The sale price per unit was $1,050,000, and the price per square foot was $797.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $2,100,000
  • Address: 70A Cooper St, Bushwick, Brooklyn
  • Units: 2
  • Price per Unit: $1,050,000
  • Total Square Footage: 2,634
  • Price per Square Foot: $797

The sale of this renovated 2-family property was facilitated by Derek Bestreich, Steve Reynolds, Tom Reynolds, Brian Davila, and Toby Waring from Investment Property Realty Group (IPRG).

Players

6 deals$11.6M volume
BROKER

Details

SOLD
IMAGE: Ari Harkov (@AriHarkov) (@HarkovLewisTeam), Derek Bestreich & Toby Waring DATE: 11/03/2022 ADDRESS: 70A Cooper St MARKET: Bushwick, Brooklyn ASSET TYPE: Multifamily BROKERS: Derek Bestreich (@Dsb619), Steve Reynolds (@SteveReynoldsNYC), Tom Reynolds (@TomReynolds_CRE), Brian Davila (@Vills25), & Toby Waring (@BklynBricks) - Investment Property Realty Group (IPRG) (@IPRG_NY) SALE PRICE: $2,100,000 UNITS: 2 ~ PPU: $1,050,000 SF: 2,634 ~ PPSF: $797 NOTE FROM BROKER: Renovated 2-Family

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$55,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,730.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,977.54
Annual Debt Service$59,730.43