Ohana Real Estate Investors Acquires Hilton Brooklyn New York Condo And Retail Units For $110.5M
140 Schermerhorn Street
$110,500,000
$746/SF
Building Size
148,000 SF
Asset Type
Condo
Closing
Nov 30, 2023
AI
The property asset involved in this closed transaction is a condo located at 140 Schermerhorn Street in Boerum Hill, Brooklyn. The asset has a total square footage of 148,000 and was sold for a price of $110,500,000, resulting in a price per square foot of $747.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $110,500,000
- Address: 140 Schermerhorn Street
- Market: Boerum Hill, Brooklyn
The buyer in this transaction is Christopher Smith, representing Ohana Real Estate Investors through HB Propco LLC. The seller is Mick Walsdorf, representing Tidal Real Estate Partners. The deal involved two transactions, with Ohana Real Estate Investors acquiring the Hilton Brooklyn New York hotel condominium unit and three retail units in Boerum Hill, Brooklyn.
It is important to note that the total square footage of the acquired properties is 148,000 square feet, and the total transaction amount was $110.5 million.
Players
Brooklyn Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93