Justin Meshberg Sells South Slope Multifamily Property For $7.6M With Buyer's Rep Shlomo Antebi Benedict & Seller's Rep Atlas Realty Group Partners LLC
SOLD
$7,600,000
+ 2
New York
See Similar DealsMultiFamily18,980 SF
Sold 10/28/2021
SOLD
Justin Meshberg Sells South Slope Multifamily Property For $7.6M With Buyer's Rep Shlomo Antebi Benedict & Seller's Rep Atlas Realty Group Partners LLC
203 17th Street, Greenwood Heights, Brooklyn, NY, USA
See Similar DealsMultiFamily18,980 SF
Sold 10/28/2021
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$400
Total Square Footage:18,980 SF
Transaction Type:Sale
The multifamily property located at 203 17th Street in South Slope has been sold for $7,600,000. The property spans across 18,980 square feet and is zoned as R6B. It consists of 29 units, with each unit having an average price per square foot of $400 and a price per unit of $262,068.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,600,000
- Market: South Slope
- Zoning: R6B
- Address: 203 17th Street
- Square Footage: 18,980
- Number of Units: 29
- Price per Square Foot: $400
- Price per Unit: $262,068
The sale was facilitated by Atlas Realty Group Partners LLC, with Shlomo Antebi, Yosef Katz, Erik Yankelovich, and Natan Safdieh representing the seller, Justin Meshberg. They played vital roles in the successful completion of the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$405,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,001.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,027.88
Annual Debt Service$432,334.53
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