Updated Dec 21, 2023
Moshe Kofman Acquires Multifamily Property On Ocean Parkway In Midwood, Brooklyn For $7.7M
1028 Ocean Parkway, Brooklyn, New York 11230, United States
$7,711,948
$892/SF
Building Size
8,640 SF
Asset Type
MultiFamily
Closing
Aug 23, 2022
About this deal
AI
A multifamily property located at 1028 Ocean Parkway in Midwood, Brooklyn has been sold. The property has a total square footage of 8,640 and is zoned for R5, R3-1, and OP. The sale took place on August 24, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $7,711,948
- Building Square Footage: 7,500
- Price per Building Square Foot: $1,028
- Lot Size: 6,000
- Building Square Footage: 8,640
- Price per Square Foot: $892
- FAR: 1.44
- Tax Class: 1
- Permits: New Building (02/19/2002)
- Lot Dimension: 40 ft x 150 ft
The buyer of the property is Moshe Kofman, while the seller is Chana Lerner. The transaction represents a significant investment in the Midwood, Brooklyn market.
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
2.06%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93