Updated Dec 21, 2023
John Brennan & Victor Holguin From Marcus & Millichap Sell Multi-Family Properties In Brooklyn For $46M
140 Ocean Pkwy, Brooklyn, NY 11218, USA
Building Size
79,170 SF
Asset Type
MultiFamily
Closing
Nov 28, 2020
About this deal
AI
John Brennan and Victor Holguin from Marcus & Millichap were involved in the sale of two multi-family properties in Brooklyn, New York. The properties are located at 140 Ocean Parkway and 1775 East 18th Street.
Summary of transaction details
- Property Type: Multi Family
- Asking Price: $17,000,000 (for 140 Ocean Parkway) and $28,000,000 (for 1775 East 18th Street)
- Sale Price: $46,000,000 ($18,000,000 for 140 Ocean Parkway and $28,000,000 for 1775 East 18th Street)
- Market: Brooklyn
- City: New York
John Brennan and Victor Holguin, representing Marcus & Millichap, facilitated the sale of both properties. The transaction involved the purchase of 140 Ocean Parkway for $17,000,000 and 1775 East 18th Street for $28,000,000. The total sale price amounted to $46,000,000.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93