Updated Dec 21, 2023
Bestreich Realty Group Facilitates $4.65M Sale Of Bushwick Multifamily Property
74 Bleecker Street, Brooklyn, New York 11221, United States
$4,650,000
$783/SF
Building Size
5,936 SF
Asset Type
MultiFamily
Closing
Mar 27, 2022
About this deal
AI
A multifamily property located at 74 Bleecker St. in Bushwick, Brooklyn was recently sold for $4,650,000. The property consists of 8 units, with a price per unit of $581,250. It spans across 5,936 square feet, resulting in a price per square foot of $783.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,650,000
- Address: 74 Bleecker St.
- Market: Bushwick, Brooklyn
The sale of this re-developed multifamily property was facilitated by Derek Bestreich, Luke Sproviero, Steve Reynolds, Tom Reynolds, Brian Davila, and Sean Mashihi of Bestreich Realty Group (BRG).
NOTE FROM @BRG_CRE: Alt-1 Re-Developed Property
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.41%
Cash-on-Cash
-0.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93