FBE Limited And David Natanov Acquire Brooklyn Multifamily Property From Nessim Tamman For $26.7M
11 Crooke Ave & 111 Woodruff Ave
$26,700,000
$176/SF
Building Size
151,404 SF
Asset Type
MultiFamily
Closing
Nov 15, 2018
AI
This multi-family property located at 11 Crooke Ave in Brooklyn was sold for $26,700,000.00. The total square footage of the asset is 75,702.0 sq ft, indicating a significant size that adds value to the property in the current market.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $26,700,000.00
- Address: 11 Crooke Ave
- Market: Brooklyn
- Square Footage: 75,702.0
- Buyer: FBE Limited, David Natanov of Green Road Capital, and FBE/Furvchthandler
- Seller: Nessim Tamman
- Brokers: Erik Yankelovich of Atlas Realty Group, Barak Jacobov
The transaction involved key players such as FBE Limited, along with David Natanov representing Green Road Capital. The seller in this deal was Nessim Tamman, and the transaction was facilitated by brokers Erik Yankelovich and Barak Jacobov. This highlights the collaborative effort of various entities in closing the sale of this significant property.
Players
Brooklyn 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93