Updated Oct 29, 2024
Highpoint Property Group Acquires Multifamily Property On Atlantic Avenue For $16M
90-92 Atlantic Ave #86, Ozone Park, NY 11416, USA
$16,000,000
$1,706/SF
Building Size
9,376 SF
Asset Type
MultiFamily
Closing
Jul 28, 2020
About this deal
AI
The multifamily property located at 86, 90, and 92 Atlantic Avenue in Cobble Hill has been involved in a closed transaction. The property consists of 30 units with a total square footage of 9,376. The deal was facilitated by Bank Leumi, who provided a loan of $16,000,000. Highpoint Property Group, represented by Drew Popkin, acted as the landlord in this transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,000,000
- Address: 86, 90, 92 Atlantic Avenue
- Market: Cobble Hill
- Units: 30
- Square Footage: 9,376
Drew Popkin, representing Highpoint Property Group, played a key role in the transaction as the landlord. Bank Leumi provided financing for the deal, further solidifying their involvement.
Players
Ozone Park 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93