Beth Manegerie Acquires Multifamily Property In Crown Heights For $2.95 Million With Broker Tali Berzak
742 Lincoln Place
$2,950,000
$1,092/SF
Building Size
2,700 SF
Asset Type
MultiFamily
Closing
Jan 15, 2025
AI
The property asset involved in the transaction is a multifamily unit located at 742 Lincoln Place in the Crown Heights market. It comprises 2 units and offers a total square footage of 2,700. The property was sold for $2,950,000, resulting in a price per unit of $1,475,000 and a price per square foot of $1,092.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,950,000
- Units: 2
- Price Per Unit: $1,475,000
- Square Footage: 2,700
- Price Per Square Foot: $1,092
- Buyer: Beth Manegerie
- Seller: Joshua Yaghoubzadeh
- Broker: Tali Berzak - Compass
- Date of Sale: 01/15/2025
The sale was characterized by an all-cash offer from the buyer, Beth Manegerie, who was able to surpass multiple competitive offers. In a note from the seller, Joshua Yaghoubzadeh expressed gratitude for the successful transaction while mentioning that Bolt Equities is actively seeking to purchase townhomes and brownstones in northern and central Brooklyn, offering competitive prices for buildings that require extensive renovations.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.38%
Cash-on-Cash
-1.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93