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39 Willow Place

Michael K Belford Acquires Multifamily Property In Brooklyn Heights For $5.35M
SOLDMultiFamily

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

Michael Lorber

Douglas Elliman

Broker

$262.5M

vol

38 deals

Broker

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