Partners Path Acquires 6-Unit Multifamily In Brooklyn For $2.9M
SOLD
$2,900,000
New York
See Similar DealsMultiFamily4,830 SF
Sold 04/28/2023
SOLD
Partners Path Acquires 6-Unit Multifamily In Brooklyn For $2.9M
767 Hart Street
See Similar DealsMultiFamily4,830 SF
Sold 04/28/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$600
Total Square Footage:4,830 SF
Transaction Type:Sale
A multifamily property located at 767 Hart Street in Brooklyn has been sold for $2,900,000. The property consists of 6 units with a total square footage of 4,875. The price per unit stands at $483,333 and the price per square foot is $595.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,900,000
- Units: 6
- Price per Unit: $483,333
- Square Footage: 4,875
- Price per Square Foot: $595
Partners Path, represented by Michael Kalt, Alex Lebowitz, and Billy Haddad, acquired the property. The sellers were Eden Ashourzadeh and Alex Kahen. The deal was facilitated by brokers Matthew Cosentino and Remi Norris of Terra CRG.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$154,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,303.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,747.48
Annual Debt Service$164,969.75
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