Adam J Hess & Edward Setton Sell Crown Heights Multifamily For $3.7M
SOLD
$3,700,000
New York
See Similar DealsMultiFamily5,850 SF
Sold 06/26/2024
SOLD
Adam J Hess & Edward Setton Sell Crown Heights Multifamily For $3.7M
788 Classon Avenue
See Similar DealsMultiFamily5,850 SF
Sold 06/26/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$632
Total Square Footage:5,850 SF
Transaction Type:Sale
The multifamily property located at 788 Classon Avenue in Crown Heights, Brooklyn, was sold for $3,700,000. Spanning 5,850 square feet, the property was transacted at a price per square foot of $632, yielding a cap rate of 6.4%.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,700,000
- Asset Type: Multifamily
- Address: 788 Classon Avenue
- Market: Crown Heights, Brooklyn
- Brokers: Adam J Hess & Edward Setton - Meridian Capital Group
- SF: 5,850
- PPSF: $632
- Cap Rate: 6.4%
Adam J Hess and Edward Setton from the Meridian Capital Group represented the parties involved in the sale of the multifamily property at 788 Classon Avenue in Crown Heights, Brooklyn, showcasing their expertise in facilitating successful real estate transactions.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$197,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,145.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,539.89
Annual Debt Service$210,478.65
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