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30 Monroe Place, Brooklyn H...

Updated Dec 21, 2023

Tremeda Monroe Acquires 13 Cooperative Apartments In Brooklyn Heights For $4M
SOLDMultiFamily

Tremeda Monroe Acquires 13 Cooperative Apartments In Brooklyn Heights For $4M

30 Monroe Place, Brooklyn Heights, Brooklyn, NY, USA

$4,000,000

$500/SF

Building Size

8,000 SF

Asset Type

MultiFamily

Closing

Oct 28, 2021

About this deal

AI

A unique cash purchase of 13 sponsor unit cooperative apartments located at 30 Monroe Place in Brooklyn Heights, NY 11201 has been finalized. The property is situated in an AAA location and is part of a 6-story elevator building with a total of 35 apartments. The building offers amenities such as a common roof deck, private storage, bike storage, and laundry facilities. The sale price for the package deal is $4,000,000, and the total square footage of the apartments is approximately 8,000. This equates to a price per square foot of $500.

Summary of transaction details:

  • Property Type: Package Deal (13 cooperative apartments)
  • Transaction Amount: $4,000,000
  • Address: 30 Monroe Place, Brooklyn Heights, NY 11201
  • Market: Brooklyn Heights
  • Buyer: Tremeda Monroe
  • Seller: Moshe Neiss
  • Buyer's Representative: Nicola Nicoletta - Douglas Elliman
  • Seller's Representatives: Justin Rubenstein & Michael Graves - Compass
  • Square Footage: 8,000
  • Price Per Square Foot: $500

Nicola Nicoletta, the buyer's representative from Douglas Elliman, expressed interest in purchasing cooperative and condo sponsor package deals in New York City without size or quantity limitations. They can be contacted at nicolanicoletta1@[email protected] for any market or off-market opportunities.

Players

Nicola Nicoletta

Douglas Elliman

Broker

$4M

vol

1 deal

Broker

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $500 per square foot on a published $4M for 8,000 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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