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915 Saint Johns Place, Broo...

Carter Martin Acquires Apartment Building In Crown Heights, Brooklyn For $6.5M
SOLDMultiFamily

Carter Martin Acquires Apartment Building In Crown Heights, Brooklyn For $6.5M

915 Saint Johns Place, Brooklyn, New York 11216, United States

$6,512,500

$867/SF

Building Size

7,508 SF

Asset Type

MultiFamily

Closing

Oct 10, 2022

AI

The apartment located at 915 Saint Johns Place in Crown Heights, Brooklyn has been sold in a transaction that took place on October 11, 2022. The property, zoned as R6, is a residential apartment building with a total building area of 5,528 square feet. The sale price for this transaction was $6,512,500, resulting in a price per square foot of $1,178. The total lot size is 2,275 square feet, with dimensions of 22.75 ft x 100 ft. The previous sale of this property took place on July 24, 2017, with a price of $3,100,000. A permit for alteration was issued on October 6, 2017.

Summary of transaction details:

  • Property Type: Apartment
  • Market: Crown Heights, Brooklyn
  • Address: 915 Saint Johns Place
  • Zoning: R6
  • Sale Date: 10/11/2022
  • Buyer: Carter Martin
  • Seller: Drew Popkin
  • Sale Price: $6,512,500
  • Building Square Footage: 5,528
  • Price per Square Foot: $1,178
  • Lot Size: 2,275 square feet
  • Last Sale Price: $3,100,000 (07/24/2017)
  • Permits: Alteration 3 (10/06/2017)
  • Lot Dimensions: 22.75 ft x 100 ft

Carter Martin acted as the buyer in this transaction, while Drew Popkin was the seller. The property had a floor area ratio (FAR) of 3.30 and is classified under tax class 2B.

Players

Carter Martin

Carlyle Group

Buyer

$146M

vol

28 deals

Buyer

Drew Popkin

Seller

$78.1M

vol

11 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

2.44%

Cash-on-Cash

-0.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93