Akelius Real Estate Management Purchases MultiFamily Property In Brooklyn For $14.7M
SOLD
$14,700,000
New York
See Similar DealsMultiFamily
Sold 10/14/2017
SOLD
Akelius Real Estate Management Purchases MultiFamily Property In Brooklyn For $14.7M
181 Prospect Park West, Brooklyn, NY...
See Similar DealsMultiFamily
Sold 10/14/2017
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Sale
The U.S. arm of the Swedish real estate giant Akelius purchased two contiguous buildings with 34 units located at 181 and 182 Prospect Park West in Brooklyn, NY. The property was acquired for $14,700,000 and consists of a mix of rent-stabilized and free-market apartments.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $14,700,000.00
- Address: 181 Prospect Park West, Brooklyn, NY
- Market: Brooklyn
- Buyer's Representative: Michael Stimler
- Buyer: Akelius Real Estate Management
- Seller: Deepak and Neera Raj
The acquisition was facilitated by Michael Stimler of the buyer's representative. The sellers, Deepak and Neera Raj, concluded the deal for the multi-family property, marking a significant transaction in the Brooklyn real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$784,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$52,225.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$69,685.50
Annual Debt Service$836,226.00
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