Updated Dec 21, 2023
Perlstein Family Acquires Multifamily Property In East Flatbush, Brooklyn For $1.9M
848 Schenectady Avenue, Brooklyn, New York 11203, United States
$1,900,000
$179/SF
Building Size
10,596 SF
Asset Type
MultiFamily
Closing
Jan 31, 2022
About this deal
AI
A multifamily property located at 848 Schenectady Avenue in East Flatbush, Brooklyn, has been sold for a price of $1,900,000. The property consists of 16 units with an average price per unit (PPU) of $118,750. The total square footage of the property is 10,596, with a price per square foot (PPSF) of $179.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,900,000
- Units: 16
- PPU: $118,750
- Total Square Footage: 10,596
- PPSF: $179
- Address: 848 Schenectady Avenue, East Flatbush, Brooklyn
- Market: East Flatbush, Brooklyn
The buyer of the property is the Perlstein Family, while the seller is Melissa Bates. The transaction was facilitated by brokers Shaun Riney and Zalman Yarmush from NYM Group, representing the buyer and seller respectively. The brokerage involved in the deal is Marcus & Millichap.
Players
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
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93