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138 Union St, Brooklyn, NY ...

Updated Sep 9, 2024

Robert Rahmanian And Louis Adler Acquire Multi Family Property In Brooklyn With NYCB Financing
FINANCEDMultiFamily

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

Michael Homapour

Meridian Capital Group

Broker

$14.9M

vol

2 deals

Broker
New York Community Bank
New York Community BankLender

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $328 per square foot on a published $1.9M for 5,780 square feet (2020).

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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

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