Isaac Abraham Acquires Multifamily Property In Brooklyn Heights For $36.5M
SOLD
$36,500,000
+ 2
New York
See Similar DealsMultiFamily66,494 SF
Sold 06/26/2019
SOLD
Isaac Abraham Acquires Multifamily Property In Brooklyn Heights For $36.5M
45 Henry St, Brooklyn, NY 11201, USA
See Similar DealsMultiFamily66,494 SF
Sold 06/26/2019
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$548
Total Square Footage:66,494 SF
Transaction Type:Sale
The multifamily property located at 145 Henry Street and 15-19 Wyckoff Street in Brooklyn Heights and Cobble Hill has been sold. The property spans a total of 66,494 square feet with an asking price of $40,000,000. The sale was finalized at $36,500,000, translating to a price per square foot of $548.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $36,500,000
- Address: 145 Henry Street, 15-19 Wyckoff Street
- Market: Brooklyn Heights, Cobble Hill
The seller of the property was The Estate of Alan Frank, while the buyer was Isaac Abraham. The deal was facilitated by brokers Chris Varjan, Vickram Jambu, George Steffani, and Jonathan Braun.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,946,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$129,676.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$173,028.62
Annual Debt Service$2,076,343.46
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