Dermot Company Acquires Multifamily Property In Brooklyn For $142.35M
SOLD
$142,350,000
+ 1
New York
See Similar DealsMultiFamily200,493 SF
Sold 05/26/2022
SOLD
Dermot Company Acquires Multifamily Property In Brooklyn For $142.35M
225 Schermerhorn Street, Brooklyn, New York 11201, United States
See Similar DealsMultiFamily200,493 SF
Sold 05/26/2022
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$710
Total Square Footage:200,493 SF
Transaction Type:Sale
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.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,591,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$505,739.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$674,811.62
Annual Debt Service$8,097,739.48
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