Updated Oct 28, 2024
Northlink Capital Sells 302-Unit Multifamily Property In Midwood, Brooklyn For $180M With JLL Brokers
1277 East 14th Street, Brooklyn, New York 11230, United States
$180,000,000
$511/SF
Building Size
351,762 SF
Asset Type
MultiFamily
Closing
Mar 22, 2022
About this deal
AI
The multifamily property at 1277 E. 14th St. in Midwood, Brooklyn has been sold for a total price of $180,000,000. The property consists of 302 units with an average price per unit of $596,026. It spans a total area of 265,000 square feet, resulting in a price per square foot of $679.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $180,000,000
- Units: 302
- Price per Unit: $596,026
- Total Square Footage: 265,000
- Price per Square Foot: $679
The sale of this property was facilitated by the broker team from JLL, including Steven Rutman, Jeff Julien, Rob Hinckley, Ethan Stanton, Brendan Maddigan, and Stephen Palmese. They represented the seller, Northlink Capital, in this transaction.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93