Updated Dec 4, 2024
Clipper Equity And The Chetrit Group Acquire Multifamily Property In Parkside, Brooklyn For $98.9M
125 Parkside Ave, Brooklyn, NY 11226, USA
$98,900,000
$59/SF
Building Size
1,666,000 SF
Asset Type
MultiFamily
Closing
Nov 15, 2018
About this deal
AI
Clipper Equity and The Chetrit Group have closed on the acquisition of two multifamily properties located at 123 and 125 Parkside Avenue in Parkside, Brooklyn. The transaction, which took place on 11/16/2018, involved a loan from greystone''>Greystone Servicing Corporation in the amount of $98,900,000. The properties have a combined square footage of 166,600 square feet.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $98,900,000
- Address: 123 and 125 Parkside Avenue
- Market: Parkside, Brooklyn
- Lender: Greystone Servicing Corporation
- Landlord: Clipper Equity and The Chetrit Group
- Square Footage: 166,600
The deal was facilitated by Joseph Chetrit and David Bistricer. They represented Clipper Equity and The Chetrit Group as their brokers in the transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93