Gillman Management Acquires Multifamily Property In Brooklyn From Morris Lieberman
SOLD
$3,170,000
New York
See Similar DealsMultiFamily19,528 SF
Sold 09/20/2021
SOLD
Gillman Management Acquires Multifamily Property In Brooklyn From Morris Lieberman
1616 President Street, Brooklyn, NY 11213
See Similar DealsMultiFamily19,528 SF
Sold 09/20/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$162
Total Square Footage:19,528 SF
Transaction Type:Sale
The multifamily property located at 1616 President Street in Brooklyn has been sold in a recent transaction. The sale was facilitated by Aaron Jungreis and Ben Khakshoor from Rosewood Realty Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,170,000
- Address: 1616 President Street, Brooklyn
- Market: Brooklyn
- Buyer: Gillman Management
- Seller: Morris Lieberman
- Brokers: Aaron Jungreis & Ben Khakshoor - Rosewood Realty Group
Gillman Management acted as the buyer, while the seller was Morris Lieberman. During the transaction, Aaron Jungreis and Ben Khakshoor, representing Rosewood Realty Group, played key roles in facilitating the deal.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$169,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,262.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,027.42
Annual Debt Service$180,329.01
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