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Local Investor Acquires 2031 Ocean Ave Brooklyn NY For $10.4 Million With Eric Yankelovich As Buyer's Rep

Property Image
SOLD
$10,400,000

New York

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MultiFamily33,040 SF
Sold 02/11/2019
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Property Image
SOLD

Local Investor Acquires 2031 Ocean Ave Brooklyn NY For $10.4 Million With Eric Yankelovich As Buyer's Rep

2031 Ocean Ave, Brooklyn, NY, 11230

See Similar Deals
MultiFamily33,040 SF
Sold 02/11/2019
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$314
Total Square Footage:33,040 SF
Transaction Type:Sale

The property asset involved in this transaction consists of two pre-war apartment buildings located at 2031 and 2233 Ocean Ave, Brooklyn, NY, within the Brooklyn market. The sale price was $10,400,000.00, covering a total square footage of 33,040, with both properties featuring four-story walk-up configurations and a collective unit count of 47.

Summary of transaction details:

  • Property Type: Apartment Buildings
  • Transaction Amount: $10,400,000.00
  • Address: 2031 Ocean Ave, Brooklyn, NY, 11230
  • Square Footage: 33,040
  • Buyer: Local Investor
  • Seller: Local Investor
  • Buyer's Representative: Eric Yankelovich - GFI Realty

Erik Yankelovich of GFI Realty represented both the buyer and seller in this transaction, facilitating the deal between two local investors. The properties are situated in the Midwood section of Brooklyn, highlighting an interest in this area from the local investment community.

Players

Erik Yankelovich
Atlas Realty Group
Erik Yankelovich
127 deals$1B volume
BROKER
LI
Local Investor
SELLER

Details

SOLD
IMAGE: 2031 Ocean Ave, Brooklyn, NY, 11230 MARKET: Brooklyn BUYER'S REP: Eric Yankelovich -GFI Realty BUYER: Local Investor SELLER: Local Investor PRICE: $10,400,000.00 SF: 33040

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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