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915 Saint Johns Place, Broo...

Updated Jan 30, 2024

Bilt advertisement
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

About this deal

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

12 deals

Seller

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $867 per square foot on a published $6.5M for 7,508 square feet (2022).

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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

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