Updated Dec 4, 2024
Sohrab Khodabakhsh Sells 854 Prospect Place Multifamily In Crown Heights For $2.05M
854 Prospect Place
$2,050,000
$569/SF
Building Size
3,600 SF
Asset Type
MultiFamily
Closing
Nov 20, 2024
About this deal
AI
This multifamily property located at 854 Prospect Place in Brooklyn comprises 4 units and spans 3,600 square feet. The sale price for this off-market transaction was $2,050,000, translating to a price per unit of $512,500 and a price per square foot of $569. The property was sold fully vacant and required a full gut renovation.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,050,000
- Units: 4
- Square Footage: 3,600
- Price Per Unit: $512,500
- Price Per Square Foot: $569
- Seller: Sohrab Khodabakhsh
- Broker: Fred Bijou - Bijou Equities
Fred Bijou of Bijou Equities LLC represented the seller in this transaction. The brokerage also facilitated tenant buyouts for holdover tenants associated with the property.
On the Map
$2,050,000
$569/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.74%
Cash-on-Cash
-2.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93