Updated Dec 21, 2023
David Seferstein Acquires Prospect Heights Apartment For $3.5M
807 Washington Avenue, Brooklyn, New York 11238, United States
$3,511,350
$365/SF
Building Size
9,603 SF
Asset Type
MultiFamily
Closing
Feb 3, 2022
About this deal
AI
Located at 807 Washington Avenue in Prospect Heights, Brooklyn, this apartment building was recently sold in a closed transaction. The property is zoned as R7A and C1-4, allowing for a variety of uses. The building has a total gross floor area of 9,700 square feet, with a price per square foot of $361. The total lot size is 2,425 square feet, with dimensions of 25 ft x 102.17 ft. The property offers a favorable floor area ratio (FAR) of 3.96, indicating the potential for additional development. The tax class for this property is 2B.
Summary of transaction details
- Property Type: Apartment
- Transaction Amount: $3,511,350
- Square Footage: 9,603
- Price per Square Foot: $366
- Last Sale Price: $1,750,000 (01/27/2014)
- Permits: Alteration (06/08/2018)
The buyer in this transaction is David Seferstein and the seller is Helmut Borchert. The deal was facilitated by their respective representatives.
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
4.52%
Cash-on-Cash
-1.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93