Ahmed Gamal Acquires Canarsie Multifamily For $795,000
739 East 88th Street, Brooklyn, NY 11236
$795,000
$236/SF
Building Size
3,360 SF
Asset Type
MultiFamily
Closing
Nov 19, 2018
AI
A multifamily property located at 739 East 88th Street in Canarsie, Brooklyn was recently sold for $795,000. The property consists of a 3-story building with a size of 20ft x 60ft and a lot size of 23.75ft x 100ft. It is a 3-family building with a total square footage of 3,360. The sale price of $795,000 reflects a price per square foot of $236. The property generated a gross income of $66,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $795,000
- Address: 739 East 88th Street, Canarsie, Brooklyn
- Market: Canarsie, Brooklyn
The seller of the property was Avi Rosengarten, and the buyer was Ahmed Gamal. The deal was facilitated by Matt Zeltser and Parviz Latipzoda, brokers from Elite Connect Real Estate.
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
19.95%
Cash-on-Cash
-5.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93