Marvin Azrak, Joel Wertzberger & Josef Mikkelson Acquire Multifamily Properties In Williamsburg, Bedford-Stuyvesant, Bushwick & Greenwood Heights For $19.6M
SOLD
$19,600,000
+ 8
New York
See Similar DealsMultiFamily10,970 SF
Sold 05/17/2022
SOLD
Marvin Azrak, Joel Wertzberger & Josef Mikkelson Acquire Multifamily Properties In Williamsburg, Bedford-Stuyvesant, Bushwick & Greenwood Heights For $19.6M
1125 Greene Avenue, Brooklyn, New York 11221, United States
See Similar DealsMultiFamily10,970 SF
Sold 05/17/2022
+ 8
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,786
Total Square Footage:10,970 SF
Transaction Type:Sale
A multifamily property located at 1125-1133 Greene Ave, 1213 Jefferson Ave, 568 Willoughby Ave, 618 Lafayette Ave, 834 Metropolitan Ave, 92 South 4th St., 325 Franklin Ave, 53 Stanhope St., and 263 18th St. in Williamsburg, Bedford-Stuyvesant, Bushwick, and Greenwood Heights has been sold for a total price of $19,600,000. The property consists of 41 units with an average price per unit of $478,048. The total square footage of the property is 34,483, with an average price per square foot of $568.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $19,600,000
- Units: 41
- Price per Unit: $478,048
- Square Footage: 34,483
- Price per Square Foot: $568
The buyers of the property are Marvin Azrak, Joel Wertzberger, and Josef Mikkelson. The seller of the property is Chaskiel Strulovitch. The transaction was facilitated by Aaron Jungreis, Greg Corbin, and Chaya Milworn from Rosewood Realty Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,045,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$69,634.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,914.00
Annual Debt Service$1,114,967.99
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