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1285 Herkimer Street

Greenbrook Partners And Carlyle Group Acquire Multifamily Property In Brooklyn For $1.85M
SOLDMultiFamily

Greenbrook Partners And Carlyle Group Acquire Multifamily Property In Brooklyn For $1.85M

1285 Herkimer Street

$1,850,000

$685/SF

Building Size

2,700 SF

Asset Type

MultiFamily

Closing

Jul 18, 2024

AI

The asset involved in the transaction is located at 1285 Herkimer Street in Brooklyn. This multifamily property encompasses 2,700 square feet and consists of 3 units. The sale price was recorded at $1,850,000, resulting in a price per unit of $616,666 and a price per square foot of $685.

Summary of transaction details:

The transaction involved key representatives from the real estate brokerage firms. David Chang and Natalia Harvey from Compass represented the buyers, Greenbrook Partners and Carlyle Group. On the other side, Mark Martov from The Corcoran Group acted as the representative for the seller, Albert Rossmeier.

Players

Mark Martov

The Corcoran Group

Broker

$39.3M

vol

10 deals

Broker

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

8.57%

Cash-on-Cash

-2.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93