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100 Belmont Pl

Chaim Kirschenbaum Of Black Iris Capital Acquires MultiFamily At 100 Belmont Pl For $11.95M
SOLDMultiFamily

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

Matthew Sparks

GFI Realty Services

Broker

$63.3M

vol

9 deals

Broker

Chaim Kirschenbaum

Black Iris Capital

Buyer
Buyer

Michael Lazaroff

Michael J Lazaroff LLC

Seller
Seller

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