Simon Marom Acquires Multifamily Property In Midwood, BK For $2.8M
2405 Nostrand Avenue, Brooklyn, NY, USA
$2,800,000
$263/SF
Building Size
10,620 SF
Asset Type
MultiFamily
Closing
Mar 5, 2019
AI
The multifamily property located at 2405-2409 Nostrand Ave in Midwood, BK has been sold. The transaction took place on 03/06/2019 and the property was sold for a price of $2.8M. The property spans over an area of 10,620 square feet, resulting in a price per square foot of $263. The seller of the property was David Natanov and the buyer was Simon Marom.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2.8M
- Date: 03/06/2019
- Address: 2405-2409 Nostrand Ave
- Market: Midwood, BK
The transaction was facilitated by Marcel Fridman from Barcel Group, who represented the seller. It is worth noting that Barcel Group previously sold this property in 2015 for $1.85M.
Players
New York 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
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93