Updated Dec 4, 2024
GPG Management Purchases Multifamily Asset At 75 Pierrepont Street Brooklyn For $6.8 Million
75 Pierrepont Street
$6,800,000
$263/SF
Building Size
25,801 SF
Asset Type
MultiFamily
Closing
Aug 15, 2024
About this deal
AI
The property involved in this transaction is located at 75 Pierrepont Street in Brooklyn. It is a multi-family asset consisting of 37 units with a total square footage of 25,801. The sale price for this property was $6,800,000, resulting in a price per unit of $183,783 and a price per square foot of $263.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $6,800,000
- Units: 37
- Total Square Footage: 25,801
- Price Per Unit: $183,783
- Price Per Square Foot: $263
- Buyer: GPG Management
- Brokers: Thomas Gammino & Patrick Donahue - Lee & Associates
- Date of Transaction: 08/15/2024
Key individuals involved in this transaction include GPG Management as the buyer, while the brokerage representation was provided by Thomas Gammino and Patrick Donahue from Lee & Associates. Their involvement facilitated the completion of the sale.
On the Map
$6,800,000
$263/SF
MultiFamily
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Brooklyn 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
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93