Zvi Ziskind Acquires 59-Unit Midwood Multifamily From Eric Markel For $8.9M
SOLD
$8,900,000
New York
See Similar DealsMultiFamily46,752 SF
Sold 07/26/2022
SOLD
Zvi Ziskind Acquires 59-Unit Midwood Multifamily From Eric Markel For $8.9M
1850 Ocean Avenue, Brooklyn, New York 11230, United States
See Similar DealsMultiFamily46,752 SF
Sold 07/26/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$190
Total Square Footage:46,752 SF
Transaction Type:Sale
Located at 1850 Ocean Avenue in the Midwood market, this multifamily property was recently sold in a closed transaction. The sale took place on July 26, 2022, with a sale price of $8,900,000. The property consists of 59 units, with an average price per unit of $150,847. The total square footage of the property is 46,752, resulting in a price per square foot of $190.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,900,000
- Address: 1850 Ocean Avenue
- Market: Midwood
Zvi Ziskind acted as the buyer in this transaction, while Eric Markel served as the seller. The deal was completed successfully, with Zvi Ziskind acquiring the property from Eric Markel for the aforementioned sale price.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$474,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,619.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,190.54
Annual Debt Service$506,286.49
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