Updated Dec 21, 2023
Iannelli Family Sells Multifamily Property In Bay Ridge, Brooklyn For $3.775M
8124 Ridge Boulevard, Brooklyn, New York 11209, United States
$3,775,000
$157/SF
Building Size
23,900 SF
Asset Type
MultiFamily
Closing
Feb 22, 2022
About this deal
AI
Located in Bay Ridge, Brooklyn, the multifamily property at 8124 Ridge Boulevard has been sold. The transaction took place on February 23, 2022, with a sale price of $3,775,000. The property consists of 21 units, with a price per unit (PPU) of $179,761. Spanning 23,900 square feet, the property has a price per square foot (PPSF) of $157.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,775,000
- Units: 21
- PPU: $179,761
- SF: 23,900
- PPSF: $157
The property was sold by the Iannelli Family. The deal was facilitated by John Brennan and Matt Dittmeier from Marcus & Millichap, who acted as the brokers representing the seller in this transaction.
On the Map
$3,775,000
$157/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
4.20%
Cash-on-Cash
-1.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93