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Albert Srour Acquires Multifamily Property At 1014 Avenue J Brooklyn For $16 Million With GFI Capital As Seller

Property Image
SOLD
$16,000,000

New York

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MultiFamily51,390 SF
Sold
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Property Image
SOLD

Albert Srour Acquires Multifamily Property At 1014 Avenue J Brooklyn For $16 Million With GFI Capital As Seller

1014 Avenue J, Brooklyn, NY 11230, USA

See Similar Deals
MultiFamily51,390 SF
Sold
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$311
Total Square Footage:51390 SF
Transaction Type:Sale

The property asset involved in this transaction is a MultiFamily building located at 1014 Avenue J in Brooklyn, New York. The property was sold for a price of $16,000,000, encompassing a total square footage of 51,390 and a price per square foot of $311. The building consists of 56 units, with a price per unit of $285,714.

Summary of transation details:

  • Property Type: MultiFamily
  • Transaction Amount: $16,000,000
  • Square Footage: 51,390
  • Price per Square Foot: $311
  • Units: 56
  • Price per Unit: $285,714
  • Seller: GFI Capital – @gfirealtyservicesllc
  • Buyer: Albert Srour
  • Brokers: Michael Weiser & Josh Orlander (GFI Realty Services)

The transaction involved key individuals and companies, with GFI Capital representing the seller while Albert Srour was the buyer of the property. The brokers facilitating this deal were Michael Weiser and Josh Orlander from GFI Realty Services, contributing their expertise to this closed transaction.

Players

Josh Orlander
10 deals$98.9M volume
BROKER

Michael Weiser
GFI Realty Services
33 deals$512.7M volume
BROKER

GFI Capital
SELLER

Details

SOLD
IMAGE: Allen Gross (GFI CEO) DATE: 08/01/2018 ADDRESS: 1014 Avenue J CITY: New York MARKET: Brooklyn ASSET TYPE: MultiFamily PRICE: $16,000,000 SF: 51,390 PPSF: $311 UNITS: 56 PPU: $285,714 SELLER: GFI Capital – @gfirealtyservicesllc BUYER: Albert Srour BROKERS: Michael Weiser & Josh Orlander (GFI Realty Services)

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$853,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
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