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185 Utica Avenue

The Mihalatos Group Sells Multifamily Property At 185 Utica Avenue Brooklyn For $2,225,000
SOLDMultiFamily

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

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:

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.

Players

Dylan Walsh

Cushman & Wakefield

Broker

$584.5M

vol

73 deals

Broker

Dennis Mihalatos

Seller

$13.5M

vol

2 deals

Seller

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