PEAK Capital Acquires 8-Unit Multifamily Building In Greenpoint
SOLD
$2,750,000
New York
See Similar DealsMultiFamily7,500 SF
Sold 04/01/2022
SOLD
PEAK Capital Acquires 8-Unit Multifamily Building In Greenpoint
94 Milton Street, Brooklyn, New York 11222, United States
See Similar DealsMultiFamily7,500 SF
Sold 04/01/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$366
Total Square Footage:7,500 SF
Transaction Type:Sale
A multifamily property located at 94 Milton St. in the Greenpoint market has been sold for $2,750,000. The property consists of 8 units with a total square footage of 7,500. The price per unit is $343,750, and the price per square foot is $366.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $2,750,000
- Date: 04/01/2022
- Address: 94 Milton St.
- Market: Greenpoint
The buyer of the property is PEAK Capital, represented by Alex Rabin and David Gomez. The seller is Joseph Smiezek. The brokerage involved in the transaction is Douglas Elliman Real Estate, with Danny Duffoo as the broker.
It's worth noting that the sale of 94 Milton marks PEAK's 36th transaction. PEAK Capital is actively seeking value-add multifamily and mixed-use properties in prime neighborhoods of Western Queens, Brooklyn, and Manhattan. For any new acquisition opportunities, please email Alex Rabin at [email protected].
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$146,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,770.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,036.40
Annual Debt Service$156,436.84
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