Gideon Asset Management Acquires Multifamily Property In Brooklyn For $2.25M
SOLD
$2,250,000
New York
See Similar DealsMultiFamily6,160 SF
Sold 12/18/2018
SOLD
Gideon Asset Management Acquires Multifamily Property In Brooklyn For $2.25M
231 Bainbridge Street, Brooklyn, NY, USA
See Similar DealsMultiFamily6,160 SF
Sold 12/18/2018
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$365
Total Square Footage:6,160 SF
Transaction Type:Sale
Located at 231 Bainbridge Street in Brooklyn, this multifamily property was recently sold. The property spans 6,160 square feet, with a price per square foot of $365. The transaction closed on December 18, 2018, with a final sale price of $2,250,000. The property was delivered vacant, offering a blank canvas for the new owner.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,250,000
Marlene Marshalleck was the seller in this transaction. On the buyer's side, Gideon Asset Management, represented by Josef Chehebar and Gabriel Shehebar, acquired the property. The deal was facilitated by brokers Shaun Riney and Dan Greenblatt from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$120,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,993.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,666.15
Annual Debt Service$127,993.77
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