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237 11th Street

Jonathan Douek And Yonatan Binman Of Bluestone Investments Acquire Multifamily Property In Gowanus For $68.5M
SOLDMultiFamily

Jonathan Douek And Yonatan Binman Of Bluestone Investments Acquire Multifamily Property In Gowanus For $68.5M

237 11th Street

$68,500,000

$738/SF

Building Size

92,722 SF

Asset Type

MultiFamily

Closing

May 12, 2025

AI

The property asset involved in this transaction is a MultiFamily unit located at 237 11th Street in the Gowanus market. The transaction was completed for a price of $68,500,000.00, comprising 105 units and encompassing a total square footage of 92,722.0.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $68,500,000.00
  • Address: 237 11th Street
  • Market: Gowanus
  • Units: 105
  • Square Footage: 92,722.0
  • Buyer: Jonathan Douek and Yonatan Binman - Bluestone Investments and Rony Kravel and Jonathan Bakhash - Shel Capital
  • Seller: Trinity Place Holdings

This transaction involved multiple key individuals representing the buyers: Jonathan Douek and Yonatan Binman from Bluestone Investments along with Rony Kravel and Jonathan Bakhash of Shel Capital, collectively acquiring the property from seller Trinity Place Holdings.

Players

Jeffrey Julien

JLL

Broker

$9B

vol

58 deals

Broker

Rony Kravel

Shel Capital

Buyer

$237.2M

vol

10 deals

Buyer
SC
Shel CapitalBuyer
TH
Trinity Place HoldingsSeller

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.23%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93