Gillman Management Acquires Multifamily Property In Crown Heights, Brooklyn
SOLD
$5,000,000
New York
See Similar DealsMultiFamily59,064 SF
Sold 11/21/2023
SOLD
Gillman Management Acquires Multifamily Property In Crown Heights, Brooklyn
1193 Eastern Parkway, 1199 Eastern Parkway & 1205 Eastern Parkway
See Similar DealsMultiFamily59,064 SF
Sold 11/21/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$84
Total Square Footage:59,064 SF
Transaction Type:Sale
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
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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