Garina Fearon Acquires New Construction Multifamily In Brooklyn For $2.9M
77 Weirfield St, Brooklyn, NY 11221, USA
Building Size
4,275 SF
Asset Type
MultiFamily
Closing
Jul 8, 2018
AI
Derek Bestreich and Steve Reynolds of BRG | Bestreich Realty Group represented both the buyer and the seller in the transaction of a new construction multifamily property located at 77 Weirfield Street in Brooklyn, New York. The property was sold for $2,900,000 and offers a total area of 4,275 square feet. With 6 units in the building, the price per unit was approximately $483,000 and the price per square foot was $678.
Summary of transaction details
- Property Type: New Construction Multifamily
- Transaction Amount: $2,900,000
- Property Address: 77 Weirfield Street, Brooklyn, New York
- Market: Brooklyn
- Total Square Footage: 4,275
- Price Per Square Foot: $678
- Total Units: 6
- Price Per Unit: $483,000
Derek Bestreich and Steve Reynolds, representing BRG | Bestreich Realty Group, were the brokers in this transaction. Joseph Kaufman served as the seller, while Garina Fearon acted as the buyer. The deal successfully closed on July 9, 2018.
Players
New York 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93