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45 Henry St, Brooklyn, NY 1...

Isaac Abraham Acquires Multifamily Property In Brooklyn Heights For $36.5M
SOLDMultiFamily

Isaac Abraham Acquires Multifamily Property In Brooklyn Heights For $36.5M

45 Henry St, Brooklyn, NY 11201, USA

$36,500,000

$548/SF

Building Size

66,494 SF

Asset Type

MultiFamily

Closing

Jun 25, 2019

AI

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.

Players

Chris Varjan

Lee & Associates

Broker

$469.3M

vol

29 deals

Broker
Isaac Abraham

Isaac Abraham

Buyer

$160.8M

vol

15 deals

Buyer

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

0.43%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93