Brian Ritter Of Sentinel Real Estate Purchases Brooklyn Multifamily Property From Larry Bernstein For $29M
SOLD
$29,000,000
New York
See Similar DealsMultiFamily109,312 SF
Sold 08/29/2018
SOLD
Brian Ritter Of Sentinel Real Estate Purchases Brooklyn Multifamily Property From Larry Bernstein For $29M
1775 East 18th St
See Similar DealsMultiFamily109,312 SF
Sold 08/29/2018
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$265
Total Square Footage:109,312 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$103,030.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$137,474.80
Annual Debt Service$1,649,697.54
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