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180 Bainbridge Street

Jay Greenberg & David Cohen Of Z&G Property Group Acquire MultiFamily Property In Brooklyn For $22.4M
SOLDMultiFamily

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

Daniel Lebor

Terra CRG

Broker

$995.3M

vol

51 deals

Broker
Jay Greenberg

Jay Greenberg

Z+G Property Group

Buyer

$76M

vol

7 deals

Buyer
BP
Bushburg PropertiesSeller

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

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