A&E Real Estate Holdings Acquires Multifamily Assets In Gravesend & Sheepshead Bay, Brooklyn For $57.5M
388 Avenue X, Brooklyn, New York 11223, United States
$57,470,436
Building Size
—
Asset Type
MultiFamily
Closing
Jul 11, 2022
AI
A multifamily property located at 388 Avenue X, 2790 Bragg Street, 2625 East 13th Street, and 3191 Emmons Avenue in Gravesend & Sheepshead Bay, Brooklyn, was recently sold. The property consists of 265 units and was sold for a total price of $57,470,436. The price per unit was $216,869.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $57,470,436
- Buyer: A&E Real Estate Holdings - Alex T. Bruce
- Seller: LeFrak - Arnold S. Lehman
- Units: 265
- Price Per Unit (PPU): $216,869
The buyer of the property was A&E Real Estate Holdings, represented by Alex T. Bruce. The seller was LeFrak, represented by Arnold S. Lehman.
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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93