Abraham Jeremias Acquires Multifamily Property In Flatbush For $8M
SOLD
$8,000,000
New York
See Similar DealsMultiFamily548,260 SF
Sold 11/25/2019
SOLD
Abraham Jeremias Acquires Multifamily Property In Flatbush For $8M
2005 Albemarle Rd, Brooklyn, NY 11226, USA
See Similar DealsMultiFamily548,260 SF
Sold 11/25/2019
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$14
Total Square Footage:548,260 SF
Transaction Type:Sale
The multifamily property located at 2005 Albemarle Road in Flatbush has been sold for a price of $8,000,000. The property spans across 54,826 square feet, with a price per square foot of $145. It consists of 53 units, resulting in a price per unit of $150,943.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,000,000
- Square Footage: 54,826
- Price per Square Foot: $145
- Number of Units: 53
- Price per Unit: $150,943
The buyer for this transaction is Abraham Jeremias, while the seller is Eric Silverstein.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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