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90 Marion Street, Brooklyn,...

Carter Martin Acquires Apartment In Bedford-Stuyvesant, Brooklyn For $3.05M
SOLDMultiFamily

Carter Martin Acquires Apartment In Bedford-Stuyvesant, Brooklyn For $3.05M

90 Marion Street, Brooklyn, New York 11233, United States

$3,049,500

$547/SF

Building Size

5,568 SF

Asset Type

MultiFamily

Closing

Jan 30, 2022

AI

A residential apartment located at 90 Marion Street in Bedford-Stuyvesant, Brooklyn has been sold. The property is zoned as R6B, R7D, C2-4 and has an estimated market value of $3,049,500. The apartment has a total square footage of 5,568 and a price per square foot of $547. The building has a floor area ratio (FAR) of 2.32 and is classified as tax class 2B. The lot size is 2,400 square feet, with dimensions of 24 ft x 100 ft. The property was last sold on August 29, 2013, for $390,000 and had an alteration permit issued on June 1, 2015.

Summary of Transaction Details

  • Property Type: Apartment
  • Transaction Amount: $3,049,500
  • Buyer: Carter Martin
  • Seller: Nadav Hamo
  • Building Square Footage: 4,800
  • Price per Building Square Foot: $635
  • Land Square Footage: 5,568
  • Price per Square Foot: $547
  • Floor Area Ratio (FAR): 2.32
  • Tax Class: 2B
  • Lot Size: 2,400
  • Last Sale Price: $390,000 (08/29/2013)
  • Permits: Alteration 3 (06/01/2015)
  • Lot Dimension: 24 ft x 100 ft

The buyer, Carter Martin, acquired the property from the seller, Nadav Hamo.

Players

Carter Martin

Carlyle Group

Buyer

$146M

vol

28 deals

Buyer

Nadav Hamo

Urban View Development Group

Seller

$68.1M

vol

9 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

5.20%

Cash-on-Cash

-1.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93