Updated Apr 10, 2026
The Mihalatos Group Sells Multifamily Property At 185 Utica Avenue Brooklyn For $2,225,000
185 Utica Avenue
$2,225,000
$549/SF
Building Size
4,050 SF
Asset Type
MultiFamily
Closing
Mar 30, 2026
About this deal
AI
The transaction involved a multifamily property located at 185 Utica Avenue in Brooklyn. The sale price was $2,225,000, encompassing 4 units and covering a total of 4,050 square feet, resulting in a price per unit of $556,250 and a price per square foot of $549.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,225,000
- Units: 4
- Square Footage: 4,050
- Price Per Unit: $556,250
- Price Per Square Foot: $549
- Seller: The Mihalatos Group (Dennis Mihalatos)
- Seller's Representative: Dylan Walsh, Nick Kolbus - Cushman & Wakefield & Dennis Mihalatos - LoanFunders.com LLC
- Date of Sale: 3/31/2026
- Market: Brooklyn
Key individuals in this transaction included Dennis Mihalatos acting as the seller and his representatives Dylan Walsh and Nick Kolbus from Cushman & Wakefield, along with Dennis Mihalatos also representing through LoanFunders.com LLC. Their collaboration facilitated the successful sale of the property.
On the Map
$2,225,000
$549/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
7.13%
Cash-on-Cash
-2.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93