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
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