Updated Dec 4, 2024
Henry Holmes Acquires Multifamily Property In Stuyvesant Heights, Brooklyn For $1.365M
768 Herkimer Street
$1,365,000
$722/SF
Building Size
1,890 SF
Asset Type
MultiFamily
Closing
Jun 10, 2024
About this deal
AI
The Multifamily property located at 768 Herkimer Street in Stuyvesant Heights, Brooklyn, was sold for $1,365,000. The property comprises 2 units with a total square footage of 1,890, resulting in a price per unit of $682,500 and a price per square foot of $722.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,365,000
- Units: 2
- Square Footage: 1,890
- Price Per Unit: $682,500
- Price Per Square Foot: $722
- Address: 768 Herkimer Street, Stuyvesant Heights, Brooklyn
- Market: Stuyvesant Heights, Brooklyn
- Buyer: Henry Holmes
- Seller: Jean Menges
- Brokers: Nina Sabag & Gill Cohen - 5 Boro Realty
The transaction was facilitated by Nina Sabag and Gill Cohen, representing 5 Boro Realty in the sale of the multifamily property. Henry Holmes acquired the property from Jean Menges in the vibrant market of Stuyvesant Heights, Brooklyn.
On the Map
$1,365,000
$722/SF
MultiFamily
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Brooklyn MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.62%
Cash-on-Cash
-3.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93