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822 Broadway, New York, NY ...

MBH Acquisitions Acquires Multifamily Property In Bushwick For $2.15M
SOLDMultiFamily

MBH Acquisitions Acquires Multifamily Property In Bushwick For $2.15M

822 Broadway, New York, NY 10003, USA

$2,150,000

$515/SF

Building Size

4,169 SF

Asset Type

MultiFamily

Closing

Sep 13, 2018

AI

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.

Players

Damhi Shaw

Terra CRG

Broker

$6.3M

vol

3 deals

Broker

Michael Betesh

Buyer

$4.3M

vol

2 deals

Buyer

Moshe Simpson

Seller

$6.6M

vol

4 deals

Seller

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

7.38%

Cash-on-Cash

-2.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93