KKR Acquires Multifamily Property In Clinton Hill, Brooklyn For $46.3M
SOLD
$46,300,000
New York
See Similar DealsMultiFamily551,970 SF
Sold 10/23/2020
SOLD
KKR Acquires Multifamily Property In Clinton Hill, Brooklyn For $46.3M
10 Lexington Ave, Brooklyn, NY 11238, USA
See Similar DealsMultiFamily551,970 SF
Sold 10/23/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$83
Total Square Footage:551,970 SF
Transaction Type:Sale
Located in Clinton Hill, Brooklyn, the multifamily property at 10 Lexington Ave. has been sold in a recent transaction. The property spans a total of 55,197 square feet and was sold for a price of $46,300,000, resulting in a price per square foot of $838. The transaction took place on October 23, 2020.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $46,300,000
- Square Footage: 55,197
- Price Per Square Foot: $838
The buyer in this transaction is KKR, while the seller is Joseph Brunner. The deal was facilitated by the respective representatives of both parties, with Daniel Rudin and Henry Kravis representing the buyer KKR.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,469,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$164,494.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$219,485.62
Annual Debt Service$2,633,827.45
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