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Cole Smith Acquires Multifamily Property From Jorge Tores In Brooklyn For $1.425M

Property Image
SOLD
$1,425,000

New York

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MultiFamily2,500 SF
Sold 10/18/2025
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Property Image
SOLD

Cole Smith Acquires Multifamily Property From Jorge Tores In Brooklyn For $1.425M

71 George Street

See Similar Deals
MultiFamily2,500 SF
Sold 10/18/2025
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$570
Total Square Footage:2,500 SF
Transaction Type:Sale

The multifamily property located at 71 George Street in Brooklyn has a sale price of $1,425,000. This asset includes 2 units, with a price per unit of $712,500. The total square footage of the property is 2,500, resulting in a price per square foot of $570.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,425,000
  • Units: 2
  • Price Per Unit: $712,500
  • Square Footage: 2,500
  • Price Per Square Foot: $570
  • Buyer: Cole Smith
  • Seller: Jorge Tores
  • Broker: Theo Eastwind - Capri Jet Realty
  • Date of Sale: 10/17/2025

The deal involved Cole Smith as the buyer and Jorge Tores as the seller, with the transaction being brokered by Theo Eastwind from Capri Jet Realty. The broker emphasized the importance of skill in achieving a sale over the asking price, suggesting expertise in navigating the market.

Players

Theo Eastwind
13 deals$42.1M volume
BROKER

Capri Jet Realty
BROKERAGE

Details

SOLD
IMAGE: Theo Eastwind DATE: 10/17/2025 ADDRESS: 71 George Street MARKET: Brooklyn ASSET TYPE: Multifamily BUYER: Cole Smith SELLER: Jorge Tores BROKER: Theo Eastwind (@TheoEastwindRE) - Capri Jet Realty (@CapriJetRealty) SALE PRICE: $1,425,000 UNITS: 2 ~ PPU: $712,500 SF: 2,500 ~ PPSF: $570 NOTE FROM BROKER: Selling over asking isn’t luck—it’s skill. Hire the broker who makes the impossible possible.

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

$76,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,062.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,755.23
Annual Debt Service$81,062.72