Updated Oct 29, 2024
The Community Preservation Corporation, The Community Development Trust, Monadnock Development, Red Stone Equity Partners & The Black Developers Network Triboro Acquire Brooklyn Multifamily For $9.3M
211 Riverdale Ave Brooklyn, NY 11212, USA
$9,292,000
$61/SF
Building Size
151,380 SF
Asset Type
MultiFamily
Closing
May 23, 2023
About this deal
AI
A multifamily property located at 211 Riverdale Avenue, 410 Manhattan Avenue, and 59 Frost Street in Brooklyn has been sold in a closed transaction. The property consists of 163 units and spans a total of 151,380 square feet. The sale price for this transaction was $9,292,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,292,000
- Units: 163
- Square Footage: 151,380
- Market: Brooklyn
The buyers involved in this transaction were The Community Preservation Corporation (CPC), The Community Development Trust (CDT), Monadnock Development, Red Stone Equity Partners, and The Black Developers Network Triboro. On the selling side was Dunn Development Corp., represented by Martin Dunn. Victor Sozio and Shimon Shkury of Ariel Property Advisors served as the brokers for this deal.
This transaction involved a partial interest sale, as noted by the broker.
On the Map
$9,292,000
$61/SF
MultiFamily
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Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.71%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93