Updated Dec 21, 2023
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
About this deal
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.
On the Map
$3,550,000
$194/SF
MultiFamily
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New York MultiFamily Market Snapshot
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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