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306 Stockholm Street, Brook...

Bestreich Realty Group Sells Bushwick Multifamily Property For $5M With Buyer's Rep Ari Harkov - Brown Harris Stevens
SOLDMultiFamily

Bestreich Realty Group Sells Bushwick Multifamily Property For $5M With Buyer's Rep Ari Harkov - Brown Harris Stevens

306 Stockholm Street, Brooklyn, New York 11237, United States

$5,000,000

$836/SF

Building Size

5,975 SF

Asset Type

MultiFamily

Closing

Mar 30, 2022

AI

Located at 306 Stockholm St. in Bushwick, this multifamily property was recently sold for $5,000,000. With a total of 8 units, the price per unit comes to $625,000. The property spans across 5,970 square feet, resulting in a price per square foot of $837.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,000,000
  • Units: 8
  • Price per Unit: $625,000
  • Square Footage: 5,970
  • Price per Square Foot: $837

Ari Harkov of The Harkov Lewis Team at Brown Harris Stevens represented the buyer in this transaction. On the seller's side, Derek Bestreich, Luke Sproviero, Steve Reynolds, Tom Reynolds, Brian Davila, and Sean Mashihi, all from Bestreich Realty Group (BRG), were the representatives.

This sale is noted as an Affordable New York 421-a sale, as mentioned by @BRG_CRE.

Players

Brian Davila

Investment Property Realty Group (IPRG)

Broker

$283.4M

vol

108 deals

Broker

New York 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

3.17%

Cash-on-Cash

-0.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93