Joe Safdie & Adam Kushnir Acquire Multifamily Property In Brooklyn From Witnick Real Estate
SOLD
$5,975,000
New York
See Similar DealsMultiFamily14,186 SF
Sold 06/17/2022
SOLD
Joe Safdie & Adam Kushnir Acquire Multifamily Property In Brooklyn From Witnick Real Estate
2342 Atlantic Avenue, Brooklyn, New York 11233, United States
See Similar DealsMultiFamily14,186 SF
Sold 06/17/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$421
Total Square Footage:14,186 SF
Transaction Type:Sale
A multifamily property located at 2342 Atlantic Ave. in Brooklyn was recently sold for $5,975,000. The property spans 16,495 square feet, resulting in a price per square foot of $362. The transaction took place on June 17, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,975,000
- Address: 2342 Atlantic Ave.
- Market: Brooklyn
Joe Safdie and Adam Kushnir acquired the property from Witnick Real Estate. Lev Mavashev and Daniel Aminov from Alpha Realty represented the buyers in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$318,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,227.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,324.55
Annual Debt Service$339,894.58
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