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Michael K Belford Acquires Multifamily Property In Brooklyn Heights For $5.35M

Property Image
SOLD
$5,350,000
Cameron Begg
JD
MB

New York

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MultiFamily4,800 SF
Sold 02/15/2023
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Property Image
SOLD

Michael K Belford Acquires Multifamily Property In Brooklyn Heights For $5.35M

39 Willow Place

See Similar Deals
MultiFamily4,800 SF
Sold 02/15/2023
Cameron Begg
JD
MB
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,114
Total Square Footage:4,800 SF
Transaction Type:Sale

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.

Players

Cameron Begg
Douglas Elliman
Cameron Begg
3 deals$15.4M volume(917) 587-6003
BROKER
MB
Michael K Belford
2 deals$10.7M volume
BUYER
JD
Jason Donofrio
2 deals$10.7M volume
SELLER

Details

SOLD
IMAGE: Cameron Begg, Alexander Boriskin & Michael Lorber DATE: 02/15/2023 ADDRESS: 39 Willow Place MARKET: Brooklyn Heights ASSET TYPE: Multifamily BUYER: Michael K Belford SELLER: Jason Donofrio BROKER: Cameron Begg (@Cam_Begg_), Alexander Boriskin (@AlexanderBoriskin) & Michael Lorber (@MichaelLorber) - Douglas Elliman (@DouglasElliman) SELLER'S REP: Ravi Kantha, Matthew Lesser, Cameron LeCates, Tori Landon & Christopher Johnson - Leslie J Garfield & Co Inc,; Tali Berzak & Isaac Metcalf - Compass SALE PRICE: $5,350,000 UNITS: 3 ~ PPU: $1,783,333 SF: 4,800 ~ PPSF: $1,115

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$285,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,007.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,361.73
Annual Debt Service$304,340.75