Updated Nov 19, 2023
Cetinkaya Family Acquires 4-Unit Multifamily In New York City For $2.9M
99 1st Place
$2,900,000
$805/SF
Building Size
3,600 SF
Asset Type
MultiFamily
Closing
Feb 23, 2023
About this deal
AI
The Cetinkaya Family has recently acquired a multifamily property located at 99 1st Place in New York City. The property consists of 4 units, with a total square footage of 3,600. The sale price for this transaction was $2,900,000, resulting in a price per unit of $725,000. The price per square foot is estimated to be $806.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,900,000
- Address: 99 1st Place, New York City
- Units: 4
- Price per Unit: $725,000
- Square Footage: 3,600
- Price per Square Foot: $806
The buyer in this transaction was the Cetinkaya Family, while the seller was the Svenelid Family. The Cetinkaya Family's representative in this deal was Dennis Cetinkaya.
On the Map
$2,900,000
$805/SF
MultiFamily
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Brooklyn 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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93