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
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