Updated Mar 18, 2025
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
About this deal
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.
On the Map
$68,500,000
$738/SF
MultiFamily
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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