Updated Sep 5, 2024
The Niehardt Family Acquires Multifamily Property On India Street In Greenpoint, Brooklyn For $2.25M
79a India Street
$2,250,000
$957/SF
Building Size
2,350 SF
Asset Type
MultiFamily
Closing
Nov 16, 2022
About this deal
AI
Located at 79A India Street in Greenpoint, Brooklyn, this multifamily property was recently sold in a closed transaction. The property consists of three units with a total square footage of 2,350. The sale price for this property was $2,250,000, resulting in a price per unit of $750,000 and a price per square foot of $957. The transaction was completed on November 16, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,250,000
- Units: 3
- Price Per Unit: $750,000
- Square Footage: 2,350
- Price Per Square Foot: $957
- Address: 79A India Street
The buyer in this transaction was the Niehardt Family, while the seller was the Gorski Family. The deal was facilitated by brokers Shaun Riney, Michael Salvatico, and Sam Leppo from Marcus & Millichap. The property was sold at the asking price of $2,250,000, as noted by the brokers.
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
7.05%
Cash-on-Cash
-2.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93