Updated Dec 19, 2023
Joseph Hedaya Acquires Multifamily Property In Homecrest, Brooklyn For $3.5M
723 Avenue S, Brooklyn, New York 11223, United States
$3,500,000
$839/SF
Building Size
4,169 SF
Asset Type
MultiFamily
Closing
Jun 12, 2022
About this deal
AI
The multifamily property located at 723 Ave S in the Homecrest neighborhood of Brooklyn has been sold for a total of $3,500,000. The property has a building square footage of 4,104 and a price per square foot of $852. The total lot size is 3,283 square feet, with dimensions of 32.83 ft x 100 ft. The transaction took place on June 13, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,500,000
- Market: Homecrest, Brooklyn
- Zoning: R5, OP
- Building Square Footage: 4,104
- Price per Square Foot: $852
- Lot Size: 3,283 square feet
- Lot Dimension: 32.83 ft x 100 ft
The buyer in this transaction is Joseph Hedaya, while the seller is Morris Srour. The property was sold with a Floor Area Ratio (FAR) of 1.27 and is classified as Tax Class 1. An alteration permit was issued on September 14, 2021.
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93