Updated Oct 14, 2026
Rafael Reihanian Of TowerREI Acquires Multifamily Property In Brooklyn For $1.425M
893 Sterling Place
$1,425,000
$548/SF
Building Size
2,600 SF
Asset Type
MultiFamily
Closing
Jan 28, 2026
About this deal
AI
The property asset involved in this transaction is a multifamily unit located at 893 Sterling Place in Brooklyn. The sale price for the asset was $1,425,000, encompassing a total square footage of 2,600, which translates to a price per square foot of $548.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,425,000
- Address: 893 Sterling Place
- Market: Brooklyn
- Square Footage: 2,600
- Price Per Square Foot: $548
- Buyer: Rafael Reihanian - TowerREI
- Seller: Linuse Darcheville
Rafael Reihanian, representing TowerREI, has expressed interest in further investments, stating that their townhouse division remains active and continues to pursue new opportunities within the market.
On the Map
$1,425,000
$548/SF
MultiFamily
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Brooklyn 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
11.13%
Cash-on-Cash
-3.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93