Updated Oct 31, 2025
Cole Smith Acquires Multifamily Property From Jorge Tores In Brooklyn For $1.425M
71 George Street
$1,425,000
$570/SF
Building Size
2,500 SF
Asset Type
MultiFamily
Closing
Oct 17, 2025
About this deal
AI
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.
On the Map
$1,425,000
$570/SF
MultiFamily
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Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.13%
Cash-on-Cash
-3.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93