MBH Acquisitions Acquires Multifamily Property In Bushwick For $2.15M
SOLD
$2,150,000
+ 3
New York
See Similar DealsMultiFamily4,169 SF
Sold
SOLD
MBH Acquisitions Acquires Multifamily Property In Bushwick For $2.15M
822 Broadway, New York, NY 10003, USA
See Similar DealsMultiFamily4,169 SF
Sold
+ 3
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$515
Total Square Footage:4,169 SF
Transaction Type:Sale
The multifamily property located at 822 Broadway in Bushwick, Brooklyn was recently sold in a closed transaction. The property consists of 4 units, with 1 retail unit and 4 residential units. The sale price for the property was $2,150,000, resulting in a price per square foot of $515. The property was sold at a 6% capitalization rate.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $2,150,000
- Price per Square Foot: $515
- Number of Units: 4 (1 Retail and 4 Resi)
- Capitalization Rate: 6%
The seller of the property was Moshe Simpson, while the buyer was MBH Acquisitions represented by Michael Betesh. The transaction was facilitated by brokers from Terracrg, including Matt Cosentino, Fred Bijou, Eric Satanovsky, and Damhi Shaw.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$114,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,638.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,192.10
Annual Debt Service$122,305.16
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