Updated Oct 29, 2024
Est4te Four Acquires 70-Unit Multifamily In Red Hook For $74M
160 Imlay St, Brooklyn, NY 11231, USA
$74,000,000
$105,714/SF
Building Size
700 SF
Asset Type
MultiFamily
Closing
Jan 9, 2020
About this deal
AI
Est4te Four, a landlord in Red Hook, has completed a multifamily property transaction at 160 Imlay Street. The property consists of 70 units and was sold for a loan amount of $74,000,000. The transaction was facilitated by Churchill Real Estate Holdings, with Justin Ehrlich acting as the lender.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $74,000,000
- Address: 160 Imlay Street
- Market: Red Hook
Justin Ehrlich of Churchill Real Estate Holdings played a key role in this transaction as the lender. Maverick Capital Partners represented the lender during the deal.
Players
New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93