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2405 Nostrand Avenue, Brook...

Simon Marom Acquires Multifamily Property In Midwood, BK For $2.8M
SOLDMultiFamily

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

Marcel Fridman

Barcel Group

Broker

$456.5M

vol

142 deals

Broker

Simon Marom

Buyer

$10.3M

vol

5 deals

Buyer
GC
Greenroad CapitalSeller

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

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