Steven Kachanian & Jacob Namdar Acquire Multifamily Asset In Brooklyn For $2.1M
SOLD
$2,100,000
New York
See Similar DealsMultiFamily5,575 SF
Sold 10/04/2018
SOLD
Steven Kachanian & Jacob Namdar Acquire Multifamily Asset In Brooklyn For $2.1M
1002 Fulton Street, Brooklyn, NY 11238, USA
See Similar DealsMultiFamily5,575 SF
Sold 10/04/2018
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$376
Total Square Footage:5,575 SF
Transaction Type:Sale
The multifamily property located at 1002 Fulton Street in Brooklyn, New York has been sold for a price of $2,100,000. The transaction was completed on 10/4/18.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,100,000
- Buyer: Steven Kachanian & Jacob Namdar of Klosed Properties
- Seller: Barbara Wilkins of New Paradise Baptist Church
- Broker: Akil Rossi of TRC Real Estate Capital
The buyers of the property are Steven Kachanian and Jacob Namdar, representing Klosed Properties. They acquired the property from Barbara Wilkins, who represented New Paradise Baptist Church as the seller. The real estate transaction was facilitated by broker Akil Rossi of TRC Real Estate Capital.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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