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828 New York Avenue, Brookl...

Updated Dec 21, 2023

Eli Siege Acquires Apartment In Flatbush, Brooklyn From Alan Drezin
SOLDMultiFamily

Eli Siege Acquires Apartment In Flatbush, Brooklyn From Alan Drezin

828 New York Avenue, Brooklyn, New York 11203, United States

$3,465,333

$145/SF

Building Size

23,774 SF

Asset Type

MultiFamily

Closing

Oct 23, 2022

About this deal

AI

The property at 828 New York Avenue in Flatbush, Brooklyn has been sold in a recent transaction. The apartment building, which falls under R7-1 zoning, offers a total of 17,475 square feet of buildable space. The sale price for the property was $3,465,333, with a price per buildable square foot of $198. The total area of the property is 23,774 square feet, with a price per square foot of $145.

Summary of transation details

  • Property Type: Apartment
  • Transaction Amount: $3,465,333
  • Zoning: R7-1
  • Market: Flatbush, Brooklyn

Eli Siege has purchased the property at 828 New York Avenue from Alan Drezin. The lot size of the property is 5,080 square feet, with dimensions of 47.48 ft x 107 ft. The property's floor area ratio (FAR) is 4.68, and it falls under tax class 2.

Additional information related to the property includes its last sale price of $1,600,000 on January 29, 2016, and the permits obtained for alteration on December 2, 2016.

Players

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $145 per square foot on a published $3.5M for 23,774 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.58%

Cash-on-Cash

-1.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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