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Morris Piller Acquires Multifamily Property In Brooklyn, Prospect Park South For $8.2M

Property Image
SOLD
$8,200,000
Seth Glasser
Daniel Greenblatt
+ 2

New York

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MultiFamily64,268 SF
Sold 08/20/2019
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Property Image
SOLD

Morris Piller Acquires Multifamily Property In Brooklyn, Prospect Park South For $8.2M

205 E 17th St, Brooklyn, NY 11226, USA

See Similar Deals
MultiFamily64,268 SF
Sold 08/20/2019
Seth Glasser
Daniel Greenblatt
+ 2
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$127
Total Square Footage:64,268 SF
Transaction Type:Sale

The multifamily property located at 205 East 17th Street in Brooklyn, Prospect Park South has been sold in a closed transaction. The property, with a total square footage of 64,268, was listed with an asking price of $13,250,000. The sale was finalized at a price of $8,200,000, resulting in a price per square foot of $128.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $8,200,000
  • Address: 205 East 17th Street, Brooklyn, Prospect Park South
  • Market: Brooklyn, Prospect Park South

Allison Clark acted as the seller in this transaction, while Morris Piller served as the buyer. The deal was facilitated by brokers Shaun Riney, Seth Glasser, Dan Greenblatt, and Zalman Yarmush from Marcus & Millichap.

Players

Seth Glasser
125 deals$1.1B volume
BROKER

Zalman Yarmush
Yarmush Investment Group
25 deals$90.8M volume(347) 534-7267
BROKER

Daniel Greenblatt
Marcus & Millichap
69 deals$263.4M volume
BROKER

Shaun Riney
Marcus & Millichap
355 deals$1.8B volume(718) 475-4369
BROKER

Details

SOLD
IMAGE: Zalman Yarmush, Shaun Riney, Seth Glasser, Dan Greenblatt DATE: 08/20/2019 ADDRESS: 205 East 17th Street MARKET: Brooklyn, Prospect Park South ASSET TYPE: Multifamily SELLER: Allison Clark BUYER: Morris Piller BROKERS: Shaun Riney, Seth Glasser, Dan Greenblatt, Zalman Yarmush – Marcus & Millichap ASKING PRICE: $13,250,000 SALE PRICE: $8,200,000 SF: 64,268 PPSF: $128 ? NOTE: […]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$437,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$29,132.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,872.18
Annual Debt Service$466,466.20