Chaim Kirschenbaum Of Black Iris Capital Acquires MultiFamily At 100 Belmont Pl For $11.95M
100 Belmont Pl & 101 Daniel Low Ter
$11,950,000
$96/SF
Building Size
124,320 SF
Asset Type
MultiFamily
Closing
Jul 6, 2020
AI
The asset involved in the transaction is a MultiFamily property located at 100 Belmont Pl in Staten Island. The sale was completed for a total price of $11,950,000.00 and encompasses a total square footage of 62,160.0.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $11,950,000.00
- Address: 100 Belmont Pl
- Market: Staten Island
- Square Footage: 62,160.0
- Buyer: Chaim Kirschenbaum (Black Iris Capital)
- Seller: Michael Lazaroff (Michael J Lazaroff LLC)
- Broker: Matthew Sparks (GFI Realty Services)
- Broker: Yosef Katz (Atlas Realty Group)
The transaction involved notable parties, including the buyer, Chaim Kirschenbaum, representing Black Iris Capital, and the seller, Michael Lazaroff, associated with Michael J Lazaroff LLC. The brokers facilitating the deal were Matthew Sparks from GFI Realty Services and Yosef Katz from Atlas Realty Group.
Players
Staten Island MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.33%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93