Charlie Brownstone & Co. Acquires Multifamily Property In Park Slope, Brooklyn For $3.6M
914 President Street, Brooklyn, NY 11215
$3,600,000
$782/SF
Building Size
4,600 SF
Asset Type
MultiFamily
Closing
Oct 1, 2021
AI
Located in Park Slope, Brooklyn, the multifamily property at 914 President Street has changed hands in a recent closed transaction. The property is classified as a 2A tax class and spans across approximately 4,600 square feet. The sale price for this property was $3,600,000, resulting in a price per square foot of $783. The building consists of 4 units, with each unit priced at $900,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,600,000
- Address: 914 President Street
- Market: Park Slope, Brooklyn
- Tax Class: 2A
The buyer of the property is Charlie Brownstone & Co., while David Barnett acted as the seller. The deal was facilitated by the following brokers: Michael Sherman from Baseline Real Estate Advisors, and Michael Falchiere and Jon Aguilar from Compass.
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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93