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Barberry Rose Management Acquires 3 Apartment Buildings In Brooklyn For $11.3M

Property Image
SOLD
$11,300,000

New York

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Mixed-use
Sold 02/13/2018
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Property Image
SOLD

Barberry Rose Management Acquires 3 Apartment Buildings In Brooklyn For $11.3M

1193 Eastern Parkway, Brooklyn, NY 11213, USA

See Similar Deals
Mixed-use
Sold 02/13/2018
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Summary

NEW YORK
Asset Type:Mixed-use
Transaction Type:Sale

Three apartment buildings located at 1193, 1195, and 1205 Eastern Parkway in Brooklyn, New York, were recently sold in a closed property transaction. The properties are owned by Albert Srour and were purchased by Barberry Rose Management, represented by Lewis Barbanel. The deal was brokered by Lev Mavashev of Alpha Realty. The total transaction price for the three buildings was $11,300,000, and the buildings consist of a total of 49 units.

Summary of transaction details

  • Property Type: 3 Apartment Buildings
  • Transaction Amount: $11,300,000
  • Seller: Albert Srour
  • Buyer: Barberry Rose Management - Lewis Barbanel
  • Broker: Lev Mavashev, Alpha Realty
  • Address: 1193, 1195, and 1205 Eastern Parkway, Brooklyn, New York
  • Units: 49

The deal was finalized on February 13, 2018. Albert Srour sold his properties to Barberry Rose Management, with Lewis Barbanel representing the buyer. The transaction was facilitated by Lev Mavashev, a broker from Alpha Realty. The sale of the three apartment buildings demonstrates the continuous activity in the Brooklyn market. Both the buyer and the seller capitalized on the opportunities presented in the market.

Players

Lev Mavashev
105 deals$704M volume(212) 658-0955
BROKER

Details

SOLD
IMAGE: SWIPE FOR MAP, Albert Srour and Lewis Barbanel DATE: 02/13/2018 ADDRESS: 1193, 1195 and 1205 Eastern Parkway CITY: New York MARKET: Brooklyn ASSET TYPE: 3 Apartment Buildings SELLER: Albert Srour BUYER: Barberry Rose Management - Lewis Barbanel BROKER: @levmavashev Lev Mavashev, of Alpha Realty. PRICE: $11,300,000 UNITS: 49

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

$602,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$40,146.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,567.76
Annual Debt Service$642,813.18