Brian Ritter Of Sentinel Real Estate Purchases Brooklyn Multifamily Property From Larry Bernstein For $29M
1775 East 18th St
$29,000,000
$265/SF
Building Size
109,312 SF
Asset Type
MultiFamily
Closing
Aug 29, 2018
AI
The asset involved in this transaction is located at 1775 East 18th St, Brooklyn, and falls under the category of MultiFamily properties. The transaction was finalized for a total price of $29,000,000.00, encompassing a total square footage of 109,312.0 square feet.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $29,000,000.00
- Address: 1775 East 18th St
- Market: Brooklyn
- Square Footage: 109312.0
- Buyer: Brian Ritter (Sentinel Real Estate)
- Seller: Larry Bernstein
- Broker: Erik Yankelovich (Atlas Realty Group)
This transaction involved Brian Ritter representing Sentinel Real Estate as the buyer, with Larry Bernstein acting as the seller. The broker for this deal was Erik Yankelovich from Atlas Realty Group, facilitating the agreement between the parties.
Players
Brooklyn 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
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93