Updated Dec 4, 2024
KKR Acquires Multifamily Property On Lexington Ave. For $17M
1-11 Lexington Ave, Clinton
$17,000,000
$5,948/SF
Building Size
2,858 SF
Asset Type
MultiFamily
Closing
Oct 8, 2020
About this deal
AI
The multifamily property located at 1-11 Lexington Ave. in Clinton Hill, Brooklyn has been sold. The transaction took place on 10/09/2020, with KKR acquiring the property from Joseph Brunner. The property is zoned as R6B and falls within the Clinton Hill market.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $17,000,000
- Last Sale Price: $6,175,000 (2/2012)
KKR, a prominent buyer in the real estate market, was represented by Daniel Rudin & Henry Kravis. On the other hand, Joseph Brunner acted as the seller in this transaction. The property had previously been sold for a price of $6,175,000 in February 2012.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93