facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Multifamily

/

Sale

/

77 Weirfield St, Brooklyn, ...

Garina Fearon Acquires New Construction Multifamily In Brooklyn For $2.9M
SOLDMultiFamily

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

Derek Bestreich

Investment Property Realty Group (IPRG)

Broker

$1.1B

vol

312 deals

Broker

Joseph Kaufman

Seller

$6.1M

vol

4 deals

Seller

New York 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93