Updated Oct 28, 2024
Dermot Company Acquires Multifamily Property In Brooklyn For $142.35M
225 Schermerhorn Street, Brooklyn, New York 11201, United States
$142,350,000
$710/SF
Building Size
200,493 SF
Asset Type
MultiFamily
Closing
May 25, 2022
About this deal
AI
The multifamily property located at 225 Schermerhorn Street in Brooklyn was recently sold in a transaction valued at $142,350,000. The property consists of 271 units, with a price per unit of $525,276. The total square footage of the property is 200,493, resulting in a price per square foot of $709.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $142,350,000
- Address: 225 Schermerhorn Street
- Market: Brooklyn
The buyer in this transaction was Dermot Company, while the seller was BentallGreenOak. The deal was facilitated by brokers Jeffrey Julien, Rob Hinckley, Steven Rutman, and Jonathan Faxon from JLL.
On the Map
$142,350,000
$710/SF
MultiFamily
View full map
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Jonathan Faxon to view all their deals.
Browse New York multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93