Ahmed Gamal Acquires Canarsie Multifamily For $795,000
SOLD
$795,000
New York
See Similar DealsMultiFamily3,360 SF
Sold 11/20/2018
SOLD
Ahmed Gamal Acquires Canarsie Multifamily For $795,000
739 East 88th Street, Brooklyn, NY 11236
See Similar DealsMultiFamily3,360 SF
Sold 11/20/2018
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$236
Total Square Footage:3,360 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$42,400.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,824.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,768.71
Annual Debt Service$45,224.47
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