Updated Dec 4, 2024
Gillman Management Acquires Multifamily Property In Crown Heights, Brooklyn
1193 Eastern Parkway, 1199 Eastern Parkway & 1205 Eastern Parkway
$5,000,000
$84/SF
Building Size
19,688 SF
Asset Type
MultiFamily
Closing
Nov 21, 2023
About this deal
AI
A multfamily property located at 1193, 1199, and 1205 Eastern Parkway in Crown Heights, Brooklyn, was recently sold for $5 million. The property consists of 29 units, with an average price per unit of $172,414. The total square footage of the property is 19,688, with an average price per square foot of $254.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Address: 1193, 1199 & 1205 Eastern Parkway
- Market: Crown Heights, Brooklyn
The buyer of the property was Gillman Management, while Barberry Rose Management acted as the seller. The deal was facilitated by the brokers Aaron Jungreis, Ben Khakshoor, and Alex Fuchs from Rosewood Realty Group.
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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93