Updated Dec 20, 2023
Ben Bay Realty Company Of Bay Ridge Sells Multifamily Property In Bay Ridge For $10.4M
7201 Ridge Boulevard
$10,400,000
$225/SF
Building Size
46,200 SF
Asset Type
MultiFamily
Closing
Nov 22, 2021
About this deal
AI
A multifamily property located at 7201 Ridge Blvd in Bay Ridge has been sold. The property consists of 59 units with a total area of 46,200 square feet. The property was listed for sale with an asking price of $14,200,000 and sold for $10,400,000. The price per unit was $176,271 and the price per square foot was $225.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,400,000
- Address: 7201 Ridge Blvd
- Market: Bay Ridge
- Listing Broker: Charles Fabbella - Ben Bay Realty Company of Bay Ridge
- Asking Price: $14,200,000
- Number of Units: 59
- Price per Unit: $176,271
- Total Square Feet: 46,200
- Price per Square Foot: $225
Charles Fabbella from Ben Bay Realty Company of Bay Ridge represented the seller in this transaction.
Players
New York 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
1.53%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93