Eric Orlofsky Acquires Multifamily Property On Quay Street In Greenpoint, New York
85 Quay Street, Brooklyn, NY 11222
$5,475,000
$396/SF
Building Size
13,810 SF
Asset Type
MultiFamily
Closing
Oct 12, 2018
AI
The multifamily property located at 85 Quay Street in Greenpoint, New York has been sold for a total price of $5,475,000. The property comprises of 6 apartments and 1 storage unit, encompassing a total of 13,810 square feet. The sale price per square foot stands at $396.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,475,000
- Date: 10/13/2018
- Address: 85 Quay Street
- Market: Greenpoint
- City: New York
The buyer of the property is Eric Orlofsky, while the seller is Marc Bailin. The deal was facilitated by Mike Salvatico and Shaun Riney from Marcus & Millichap acting as brokers.
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
2.90%
Cash-on-Cash
-0.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93