Updated Nov 28, 2024
Stark Family Acquires Multifamily Property In New York City For $3M
818 Marcy Ave Brooklyn, NY 11216, USA
$3,040,000
$500/SF
Building Size
6,075 SF
Asset Type
MultiFamily
Closing
Jun 5, 2023
About this deal
AI
A multifamily property located at 818 Marcy Avenue in New York City has been sold for a total price of $3,040,000. The property consists of 12 units with an average price per unit of $253,333. It spans a total square footage of 6,075, resulting in a price per square foot of $500.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,040,000
- Address: 818 Marcy Avenue, New York City
- Market: New York City
The buyer in this transaction is the Stark Family, while the sellers are Hirshmark Capital and Igor Vaysberg. The deal was facilitated by brokers Erik Yankelovich, Shlomo Antebi, and Yosef Katz from Atlas Realty Group.
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
5.22%
Cash-on-Cash
-1.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93