Updated Oct 28, 2024
Mordechai Piller Acquires Multifamily Portfolio In Gravesend For $14.2M
2314 West 12th Street, Brooklyn, New York 11223, United States
$14,250,000
$248/SF
Building Size
57,432 SF
Asset Type
MultiFamily
Closing
Aug 11, 2022
About this deal
AI
The multifamily property located at 2314 West 12th Street, 2302 West 12th Street, and 2315 West 13th Street in Gravesend has been sold. The property consists of 51 units with a price per unit (PPU) of $279,411. The total square footage is 57,432, with a price per square foot (PPSF) of $248. The sale was completed for a total price of $14,250,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,250,000
- Address: 2314 West 12th Street, 2302 West 12th Street, and 2315 West 13th Street
- Market: Gravesend
- Number of Units: 51
- Price per Unit (PPU): $279,411
- Total Square Footage: 57,432
- Price per Square Foot (PPSF): $248
Mordechai Piller has purchased the property from the Orbach Group, specifically Meyer Orbach. Orbach Group served as the seller in this transaction.
On the Map
$14,250,000
$248/SF
MultiFamily
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Brooklyn MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.11%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93