Maguire Capital Group Acquires 49-Unit Condo Property In Sheepshead Bay, Brooklyn
3112 Emmons Avenue & 3144 Emmons Avenue
$19,500,000
Units
49
Asset Type
Condo
Closing
Oct 13, 2023
About this deal
AI
Maguire Capital Group's Emmons Avenue Owner LLC has purchased 49 unsold condominium units and additional parking spaces from developer Chaim Miller at the Breakers, a 75-unit property located at 3112-3144 Emmons Avenue in Sheepshead Bay, Brooklyn. The transfer value for this transaction was $19.1 million.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $19,500,000
- Units: 49
- Price Per Unit: $397,959
- Buyer: Marvin Azrak - Maguire Capital Group
- Seller: Chaim Miller
Marvin Azrak of Maguire Capital Group represented the buyer in this deal.
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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93