Michael K Belford Acquires Multifamily Property In Brooklyn Heights For $5.35M
39 Willow Place
$5,350,000
$1,114/SF
Building Size
4,800 SF
Asset Type
MultiFamily
Closing
Feb 15, 2023
AI
Located at 39 Willow Place in Brooklyn Heights, this multifamily property recently changed hands in a sales transaction. The property consists of 3 units, offering a total of 4,800 square feet of space. The sale price reached $5,350,000, resulting in a price per unit of $1,783,333 and a price per square foot of $1,115.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $5,350,000
- Units: 3
- Square Footage: 4,800
- Price per Unit: $1,783,333
- Price per Square Foot: $1,115
The property was sold by Jason Donofrio, while Michael K Belford took over as the new owner. The sales transaction was facilitated by Cameron Begg, Alexander Boriskin, and Michael Lorber from Douglas Elliman. Representing the seller were Ravi Kantha, Matthew Lesser, Cameron LeCates, Tori Landon, and Christopher Johnson from Leslie J Garfield & Co Inc., along with Tali Berzak and Isaac Metcalf from Compass.
Players
Willyung 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
2.97%
Cash-on-Cash
-0.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93