Updated Feb 16, 2024
Jack Blatter Acquires Multifamily Property In Crown Heights, Brooklyn With $8.2M Loan From Arbor Realty Trust
2288 Atlantic Ave, Brooklyn, NY 11233, USA
$8,200,000
$467/SF
Building Size
17,559 SF
Asset Type
MultiFamily
Closing
Jul 30, 2020
About this deal
AI
The multifamily property located at 2288 Atlantic Avenue in Crown Heights, Brooklyn, has been involved in a recent closed transaction. The property spans across 17,559 square feet and was sold for a loan amount of $8,200,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,200,000
- Address: 2288 Atlantic Avenue
- Market: Crown Heights, Brooklyn
- Lender: Arbor Realty Trust
- Landlord: Jack Blatter
- Broker: Jack Coopersmith
- Square Footage: 17,559
In this closed transaction, Jack Coopersmith of the Jack Coopersmith agency represented both the buyer and seller. This deal underscores the significance of effective broker representation in facilitating successful property transactions.
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
1.93%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93