Joseph Pistilli's Pistilli Realty Acquires Crown Heights Multifamily For $12.7M
SOLD
$12,700,000
New York
See Similar DealsMultiFamily868,040 SF
Sold 02/11/2020
SOLD
Joseph Pistilli's Pistilli Realty Acquires Crown Heights Multifamily For $12.7M
925 Prospect Pl, Brooklyn, NY 11213, USA
See Similar DealsMultiFamily868,040 SF
Sold 02/11/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$14
Total Square Footage:868,040 SF
Transaction Type:Sale
A multifamily property located at 925 Prospect Place in Crown Heights has been sold in a closed transaction. The property spans 86,804 square feet and consists of 82 units. The sale price for the property was $12,700,000, resulting in a price per square foot of $146. The buyer of the property was Joseph Pistilli from Pistilli Realty. The seller was Prospect Palace LLC, represented by Janna Rossetti.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $12,700,000
- Square Footage: 86,804
- Price per Square Foot: $146
- Total Units: 82
- Price per Unit: $155,183
- Buyer: Joseph Pistilli from Pistilli Realty
- Seller: Prospect Palace LLC - Janna Rossetti
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$677,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$45,120.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$60,204.48
Annual Debt Service$722,453.75
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