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848 Flushing Avenue, Brookl...

Joel Wieder Acquires Walk-up Apartment In Bushwick, Brooklyn For $3.55M
SOLDMultiFamily

Joel Wieder Acquires Walk-up Apartment In Bushwick, Brooklyn For $3.55M

848 Flushing Avenue, Brooklyn, NY, USA

$3,550,000

$194/SF

Building Size

18,222 SF

Asset Type

MultiFamily

Closing

Jun 23, 2021

AI

Located at 848 Flushing Avenue in Bushwick, Brooklyn, this property is a walk-up apartment building with over six families and stores. The transaction took place on June 24, 2021.

Summary of transaction details

  • Property Type: Walk-up Apartment - Over Six Families with Stores (C7) ~ R6A, C2-4
  • Transaction Amount: $3,550,000
  • Property Size: 18,222 square feet
  • Price per Square Foot: $195
  • Address: 848 Flushing Avenue, Bushwick, Brooklyn
  • Market: Bushwick, Brooklyn

The buyer involved in this transaction is Joel Wieder, while Allen Schifino is the seller.

In terms of the property's history, the last recorded sale was on January 8, 2008, with a sale price of $0.

Players

Joel Wieder

Buyer

$55.4M

vol

5 deals

Buyer

Allen Schifino

Seller

$9.6M

vol

2 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

4.47%

Cash-on-Cash

-1.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93