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Ariel Property Advisors bro...

Jeffrey Goldberg's Fairstead Acquires Multifamily Asset In Morrisania, Longwood, Crotona Park & Tremont For $350M
SOLD

Jeffrey Goldberg's Fairstead Acquires Multifamily Asset In Morrisania, Longwood, Crotona Park & Tremont For $350M

$350,000,000

Building Size

Asset Type

Closing

Dec 10, 2021

AI

A multifamily property located in Morrisania, Longwood, Crotona Park, and Tremont has recently been sold.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $350,000,000
  • Units: 1,904
  • Price Per Unit: $183,823
  • Square Footage: 2,300,000
  • Price Per Square Foot: $152

The buyer of the property is Jeffrey Goldberg from Fairstead, while the seller is Frank Linde representing Property Resources Corp. The transaction was facilitated by brokers Victor Sozio, Shimon Shkury, and Jason Gold from Ariel Property Advisors.

Players

Shimon Shkury

Ariel Property Advisors

Broker

$1.7B

vol

55 deals

Broker
Jeffrey Goldberg

Jeffrey Goldberg

Fairstead

Buyer

$1.3B

vol

14 deals

Buyer

Frank Linde

Property Resources Corp.

Seller

$366M

vol

2 deals

Seller

Market CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.05%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93