Mihe Kim Acquires Multi-Family Property In Crown Heights, Brooklyn For $5.35M
871 Park Pl, Brooklyn, NY 11216, USA
Building Size
68,800 SF
Asset Type
MultiFamily
Closing
Jun 6, 2018
AI
Located at 871 Park Place in Crown Heights, Brooklyn, this multi-family property was recently sold in a closed transaction. With a total of 6,880 square feet, the property features 8 units, offering ample space for residents. The transaction took place at a price of $5,350,000, resulting in a price per square foot of $778. The sale also included a price per unit of $662,500 and a capitalization rate of 5.0%.
Summary of transaction details
- Property Type: Multi-Family
- Transaction Amount: $5,350,000
- Square Footage: 6,880 sf
- Price per Square Foot: $778
- Number of Units: 8
- Price per Unit: $662,500
- Capitalization Rate: 5.0%
The seller of the property, Red Brick Properties, was represented by David Slaven. Mihe Kim was the buyer in this transaction. The brokerage firm involved in the deal was BRG, represented by Toby Waring, Derek Bestreich, and Luke Sproviero.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93