Updated Sep 5, 2024
Michael K Belford Acquires Multifamily Property In Brooklyn Heights For $5.35M
39 Willow Place
$5,350,000
$1,114/SF
Building Size
4,800 SF
Asset Type
MultiFamily
Closing
Feb 15, 2023
About this deal
AI
A multifamily property located at 39 Willow Place in Brooklyn Heights has been sold in a closed transaction. The property consists of 3 units with a total square footage of 4,800. The sale price for this transaction was $5,350,000, resulting in a price per unit of $1,783,333 and a price per square footage of $1,115.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,350,000
- Address: 39 Willow Place
- Market: Brooklyn Heights
The buyer for this transaction was Michael K Belford, while the seller was Jason Donofrio. The deal was facilitated by brokers Cameron Begg, Alexander Boriskin, and Michael Lorber from Douglas Elliman. Representing the seller were Ravi Kantha, Matthew Lesser, Cameron LeCates, Tori Landon, and Christopher Johnson from Leslie J Garfield & Co Inc, as well as Tali Berzak and Isaac Metcalf from Compass.
On the Map
$5,350,000
$1,114/SF
MultiFamily
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Players
Market 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
2.97%
Cash-on-Cash
-0.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93