Updated Dec 21, 2023
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
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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93