Updated Dec 4, 2024
Yotam Michaeli Acquires MultiFamily Buildings In Bushwick, Brooklyn For $3.5M
1357 Dekalb Avenue, 1351 Dekalb Avenue & 1355 Dekalb Avenue
$3,500,000
$44/SF
Building Size
26,053 SF
Asset Type
MultiFamily
Closing
Dec 7, 2023
About this deal
AI
Yotam Michaeli, represented by the entity Dekalb BK LLC, completed the acquisition of three residential elevator buildings in Bushwick, Brooklyn. The properties, located at 1357 Dekalb Avenue, 1351 Dekalb Avenue, and 1355 Dekalb Avenue, total 27 units. The sale price for the transaction was $3.5 million, resulting in a price per square foot of $134. The seller of the properties was BK 38th Lender LLC.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $3,500,000
- Address: 1357 Dekalb Avenue, 1351 Dekalb Avenue, and 1355 Dekalb Avenue
- Market: Bushwick, Brooklyn
Yotam Michaeli, as the buyer, was represented by Dekalb BK LLC. BK 38th Lender LLC acted as the seller in the deal.
On the Map
$3,500,000
$44/SF
MultiFamily
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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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93