Updated Dec 12, 2024
Carlos Saavedra And Nicole Eckstrom Acquire Brooklyn Townhouse For $15.5M With Timothy Malone As The Broker
307 Hicks Street
$15,500,000
Building Size
—
Asset Type
Single Family
Closing
Dec 10, 2024
About this deal
AI
307 Hicks Street is a single-family property located in Brooklyn. The asset was sold under contract for $15,500,000, representing one of the highest values in the market for this type of property. The transaction involved a multifamily-to-single-family conversion, highlighting its unique transition within the market.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $15,500,000
- Address: 307 Hicks Street
- Market: Brooklyn
- Buyer: Carlos Saavedra & Nicole Eckstrom
- Broker: Timothy Malone - Compass
Carlos Saavedra and Nicole Eckstrom, the buyers, are noted for leading the acquisition, marking the deal as Brooklyn's most expensive contract. The broker representing the transaction was Timothy Malone from Compass, facilitating the successful negotiation and sale.
On the Map
$15,500,000
Single Family
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Players
Brooklyn Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93