Jay Greenberg & David Cohen Of Z&G Property Group Acquire MultiFamily Property In Brooklyn For $22.4M
180 Bainbridge Street
$22,437,500
Building Size
—
Asset Type
MultiFamily
Closing
Oct 10, 2023
AI
The multi-family property located at 180 Bainbridge Street in Brooklyn has been sold in a recent transaction. The property, consisting of 46 units, was sold by Bushburg Properties to the buyer, Z&G Property Group, represented by Jay Greenberg and David Cohen. The sale price for the property was $22,437,500, with a per unit price of $487,772. The total square footage of the property is 40,084, resulting in a price per square foot of $560.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $22,437,500
- Units: 46
- Price Per Unit: $487,772
- Square Footage: 40,084
- Price Per Square Foot: $560
Ofer Cohen, Matthew (Matt) Cosentino, Daniel (Dan) Lebor, and Remi Norris of Terra CRG served as the brokers for the transaction. They facilitated the deal between the buyer and the seller, ensuring a successful transfer of ownership.
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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93