Rudd Realty Acquires Multifamily Property In Park Slope, Brooklyn For $10.4M
SOLD
$10,400,000
New York
See Similar DealsMultiFamily180,200 SF
Sold 12/20/2019
SOLD
Rudd Realty Acquires Multifamily Property In Park Slope, Brooklyn For $10.4M
94 Sterling Pl, Brooklyn, NY 11217, USA
See Similar DealsMultiFamily180,200 SF
Sold 12/20/2019
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$57
Total Square Footage:180,200 SF
Transaction Type:Sale
The multifamily property located at 94-96 Sterling Place in Park Slope, Brooklyn has been sold in a closed transaction. The property consists of 25 units, along with a cell tower. The transaction took place on December 20, 2019, and the sale price was $10,400,000. The total square footage of the property is 18,020 square feet, resulting in a price per square foot of $577.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $10,400,000
- Address: 94-96 Sterling Place, Park Slope, Brooklyn
- Market: Park Slope, Brooklyn
- Square Footage: 18,020
- Price Per Square Foot: $577
The seller of the property was Debra Warshaw, while the buyer was Rudd Realty. The transaction was facilitated by Jonny Yuran of NKF, who represented the buyer. Additionally, the property features a cell tower, adding to its value and potential revenue streams.
Players
BUYER
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$554,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,949.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,301.31
Annual Debt Service$591,615.67
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