Updated Dec 21, 2023
Barcel Group Brokered $8.15M Sale Of 48-Unit Multifamily In Midwood
1245 Ocean Ave, Brooklyn, New York 11210, United States
$8,150,000
$146/SF
Building Size
55,800 SF
Asset Type
MultiFamily
Closing
Mar 7, 2022
About this deal
AI
Located in the Midwood market, the multifamily property at 1245 Ocean Ave. has been sold for a total of $8,150,000. The sale was facilitated by Marcel Fridman from Barcel Group. The property consists of 48 units, with each unit having a price per unit (PPU) of $169,791. The total square footage of the property is 55,800, with a price per square foot (PPSF) of $146.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,150,000
- Units: 48
- Price Per Unit (PPU): $169,791
- Square Footage: 55,800
- Price Per Square Foot (PPSF): $146
Marcel Fridman from Barcel Group played a crucial role in the successful completion of the deal, representing the parties involved in the transaction. With their expertise, they ensured a smooth process from start to finish.
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
1.95%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93