Sean R. Kelly And Benjamin Vago Of Ariel Property Advisors Facilitate $11.15M Multifamily Sale In Greenpoint
SOLD
New York
See Similar DealsMultiFamily31,023 SF
Sold 03/28/2025
SOLD
Sean R. Kelly And Benjamin Vago Of Ariel Property Advisors Facilitate $11.15M Multifamily Sale In Greenpoint
Mcguinness Boulevard
See Similar DealsMultiFamily31,023 SF
Sold 03/28/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$359
Total Square Footage:31,023 SF
Transaction Type:Sale
The transaction involves a multifamily asset located at 287-299 McGuinness Boulevard in the Greenpoint market, consisting of three buildings with a total of 30 residential units. The total sale price for the property was $11,150,000.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $11,150,000
- Address: 287-299 McGuinness Boulevard
- Market: Greenpoint
- Buildings: 3
- Units: 30
The deal was represented by Sean R. Kelly, Esq. and Benjamin Vago, Esq. from Ariel Property Advisors, assisting in the transaction between the relevant parties.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$594,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,613.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,856.69
Annual Debt Service$634,280.26
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