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Gabriel Schmitt Purchases Multifamily Asset At 816 Lafayette Avenue From Joshua Yaghoubzadeh For $2.7M

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SOLD
$2,700,000

New York

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MultiFamily3,300 SF
Sold 11/05/2024
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SOLD

Gabriel Schmitt Purchases Multifamily Asset At 816 Lafayette Avenue From Joshua Yaghoubzadeh For $2.7M

816 Lafayette Avenue

See Similar Deals
MultiFamily3,300 SF
Sold 11/05/2024
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$818
Total Square Footage:3,300 SF
Transaction Type:Sale

The property asset involved in the transaction is a multifamily building located at 816 Lafayette Avenue in the Bedford Stuyvesant market. The sale price for the asset was $2,700,000, comprising 2 units. The total square footage of the property is 3,300, which results in a price per unit of $1,350,000 and a price per square foot of $818.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,700,000
  • Units: 2
  • Square Footage: 3,300
  • Price Per Unit: $1,350,000
  • Price Per Square Foot: $818
  • Buyer: Gabriel Schmitt
  • Seller: Joshua Yaghoubzadeh - Bolt Equities
  • Broker: Tali Berzak

The deal was represented by Tali Berzak, who facilitated the transaction between the buyer, Gabriel Schmitt, and the seller, Joshua Yaghoubzadeh of Bolt Equities. Bolt Equities is focused on the acquisition of brownstones and townhomes across northern and central Brooklyn, emphasizing quick closings in 30 days or less.

Players

Tali Berzak
7 deals$20.7M volume(917) 246-8581
BROKER

Details

SOLD
IMAGE: Tali Berzak & Joshua Yaghoubzadeh DATE: 11/05/2024 ADDRESS: 816 Lafayette Avenue MARKET: Bedford Stuyvesant ASSET TYPE: Multifamily BUYER: Gabriel schmitt SELLER: Joshua Yaghoubzadeh - Bolt Equities (@BoltEquities) BROKER: Tali Berzak (@BerzakMetcalfTeam) SALE PRICE: $2,700,000 UNITS: 2 ~ PPU: $1,350,000 SF: 3,300 ~ PPSF: $818 NOTE FROM SELLER: Bolt Equities is actively purchasing brownstones and townhomes across northern and central brooklyn. Quick closings in 30 days or less. Please reach out at [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$144,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
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