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2261 Ocean Ave

Roy DiMaggio Acquires MultiFamily Property At 2261 Ocean Ave Brooklyn For $15.5M
SOLDMultiFamily

Roy DiMaggio Acquires MultiFamily Property At 2261 Ocean Ave Brooklyn For $15.5M

2261 Ocean Ave

$15,500,000

$293/SF

Building Size

52,812 SF

Asset Type

MultiFamily

Closing

Nov 29, 2018

AI

The property asset involved in this transaction is a MultiFamily building located at 2261 Ocean Ave in the Brooklyn market. The transaction price for the property was $15,500,000.00, with a total area of 52,812 square feet.

Summary of transaction details:

The deal involved key individuals including the buyer, Roy DiMaggio, and the sellers, Steven Adelsberg, Larry Malitsky, along with the Estate of Jack Sternklar. The transaction was facilitated by brokers Erik Yankelovich and Yosef Katz from Atlas Realty Group and Josh Orlander from GFI Realty Services.

Players

Erik Yankelovich

Atlas Realty Group

Broker

$1.1B

vol

129 deals

Broker

Roy DiMaggio

Buyer
Buyer

Steven Adelsberg, Larry Malitsky and Estate of Jack Sternklar

Seller
Seller

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.02%

Cash-on-Cash

-0.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93