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

Property Image
SOLD
$5,350,000
Christopher Johnson
Cameron LeCates
+ 8

Western Australia

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MultiFamily4,800 SF
Sold 02/15/2023
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Property Image
SOLD

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

39 Willow Place

See Similar Deals
MultiFamily4,800 SF
Sold 02/15/2023
Christopher Johnson
Cameron LeCates
+ 8
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Summary

Asset Type:MultiFamily
Price Per Square Foot:$1,114
Total Square Footage:4,800 SF
Transaction Type:Sale

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
38 deals$262.5M volume
BROKER

Ravi Kantha
Serhant
31 deals$409M volume(914) 224-2191
BROKER

Tali Berzak
Compass
7 deals$20.7M volume(917) 246-8581
BROKER

Alexander Boriskin
Douglas Elliman
37 deals$242M volume
BROKER

Cameron LeCates
Leslie Garfield
4 deals$24.5M volume(717) 841-4192
BROKER

Cameron Begg
Douglas Elliman
3 deals$15.4M volume(917) 587-6003
BROKER

Tori Landon
Leslie Garfield
4 deals$32.1M volume(212) 574-6971
BROKER

Christopher Johnson
Leslie Garfield
1 deal$5.4M volume(212) 574-6975
BROKER

Isaac Metcalf
Compass
1 deal$5.4M volume(917) 734-2376
BROKER


2 deals$10.7M volume
BROKER

Details

SOLD
IMAGE: Cameron Begg, Alexander Boriskin & Michael Lorber DATE: 02/15/2023 ADDRESS: 39 Willow Place MARKET: Brooklyn Heights ASSET TYPE: Multifamily BUYER: Michael K Belford SELLER: Jason Donofrio BROKER: Cameron Begg (@Cam_Begg_), Alexander Boriskin (@AlexanderBoriskin) & Michael Lorber (@MichaelLorber) - Douglas Elliman (@DouglasElliman) SELLER'S REP: Ravi Kantha, Matthew Lesser (@LesserKanthaTeam), Cameron LeCates, Tori Landon & Christopher Johnson - Leslie J Garfield & Co Inc. (@LeslieJGarfield); Tali Berzak & Isaac Metcalf (@IsaaCMetcalf) - Compass (@Compass) (@CompassNY) SALE PRICE: $5,350,000 UNITS: 3 ~ PPU: $1,783,333 SF: 4,800 ~ PPSF: $1,115

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$285,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,007.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,361.73
Annual Debt Service$304,340.75