Bentall Kennedy Acquires MultiFamily In Brooklyn For $154.25M
SOLD
$154,250,000
New York
See Similar DealsMultiFamily228,246 SF
Sold 06/13/2022
SOLD
Bentall Kennedy Acquires MultiFamily In Brooklyn For $154.25M
225 Schermerhorn St, Brooklyn, NY, 1...
See Similar DealsMultiFamily228,246 SF
Sold 06/13/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$675
Total Square Footage:228,246 SF
Transaction Type:Sale
The property at 225 Schermerhorn St in Brooklyn, NY, is a MultiFamily asset with a total square footage of 228,246. The transaction took place on 06/13/2022 with a selling price of $154,250,000.00 in the Brooklyn market.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $154,250,000.00
- Address: 225 Schermerhorn St, Brooklyn, NY
- Seller's Representative: Matthew Lawton(JLL), Paul Spellman(JLL)
- Buyer: Bentall Kennedy
Matthew Lawton and Paul Spellman from JLL represented the sellers in this transaction, while Bentall Kennedy acted as the buyer in the deal.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,226,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$548,017.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$731,223.69
Annual Debt Service$8,774,684.34
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