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8817 Bay Parkway, Brooklyn,...

Jonathan Wiener Acquires Multi-Family Property In Gravesend, Brooklyn For $4.04M
SOLDMultiFamily

Jonathan Wiener Acquires Multi-Family Property In Gravesend, Brooklyn For $4.04M

8817 Bay Parkway, Brooklyn, New York 11214, United States

$4,036,041

$152/SF

Building Size

26,520 SF

Asset Type

MultiFamily

Closing

Dec 7, 2021

AI

The multi-family property located at 8817 Bay Parkway in Gravesend, Brooklyn has been sold in a recent transaction. The property, with a lot size of 9,700 square feet and dimensions of 93.5 ft x 97.92 ft, is zoned as R6 and has a floor area ratio (FAR) of 2.73. The property falls under tax class 2.

Summary of transaction details

  • Property Type: Multi Family
  • Sale Date: 12/08/2021
  • Address: 8817 Bay Parkway
  • Market: Gravesend, Brooklyn
  • Buyer: Jonathan Wiener
  • Seller: Morris Joseph Knoll
  • Price: $4,036,041
  • Building Square Footage: 23,571
  • Price per Square Foot: $171
  • Lot Square Footage: 26,520
  • Price per Square Foot (Land): $152
  • Last Sale Price: $0 (12/27/2013)

In this transaction, the buyer is Jonathan Wiener and the seller is Morris Joseph Knoll. The property was sold for a total price of $4,036,041. With a building square footage of 23,571, the price per square foot for the building is $171. The lot square footage is 26,520, and the price per square foot for the land is $152. The last recorded sale of this property was on 12/27/2013 for a price of $0.

Players

Jonathan Wiener

Chestnut Holdings

Buyer

$165.6M

vol

24 deals

Buyer

Morris Joseph Knoll

Seller

$65.3M

vol

10 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

3.93%

Cash-on-Cash

-1.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93