Updated Oct 29, 2024
Steven Kachanian Of Klosed Properties Acquires 8-Unit Multifamily In Brooklyn For $1.35M
992 Willoughby Ave, Brooklyn, NY 11221, USA
Building Size
6,500 SF
Asset Type
MultiFamily
Closing
May 16, 2018
About this deal
AI
The multifamily property located at 992 Willoughby Avenue in Brooklyn, New York, has been sold for a price of $1,350,000. The property consists of 8 units, with an average price per unit (PPU) of $168,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,350,000
- Units: 8
- PPU: $168,000
- Seller: Gouramety Jackson
- Buyer: Steven Kachanian, Klosed Properties
- Broker: Anand Melwani of ARM Real Estate Group
Steven Kachanian, representing Klosed Properties, purchased the property from seller Gouramety Jackson. The transaction was facilitated by broker Anand Melwani of ARM Real Estate Group.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93