Updated Sep 9, 2024
Robert Rahmanian And Louis Adler Acquire Multi Family Property In Brooklyn With NYCB Financing
138 Union St, Brooklyn, NY 11231, USA
$1,900,000
$328/SF
Building Size
5,780 SF
Asset Type
MultiFamily
Closing
Nov 28, 2020
About this deal
AI
138 Union Street, located in Brooklyn, New York, has been sold in a closed transaction. The property is a multi-family asset with a purchase price of $2,850,000. The loan amount for the deal was $1,900,000. The property is situated in a thriving market and offers great potential for investment.
Summary of transaction details:
- Property Type: Multi Family
- Transaction Amount: $2,850,000
- Lender: NYCB
- Landlord: Robert Rahmanian & Louis Adler
- Broker: Michael Homapour w/ @meridian.capital.group
- Loan Amount: $1,900,000
- Terms: 4.125%, 1% Prepay penalty after the first year.
The deal was facilitated by Michael Homapour from @meridian.capital.group serving as the broker. He played a crucial role in ensuring a successful transaction between the buyer and the seller. Robert Rahmanian and Louis Adler acted as the landlords in this deal. With their combined expertise, they were able to negotiate and finalize the purchase of 138 Union Street.
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
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93