facebook
Traded Co logo
Submit

Ace Management/Schwartz Real Estate Acquires Multi Family Property In Midwood, Brooklyn For $15M

Property Image
SOLD
$15,000,000

New York

See Similar Deals
MultiFamily54,700 SF
Sold 08/29/2018
the dealplayerscompscontact
Property Image
SOLD

Ace Management/Schwartz Real Estate Acquires Multi Family Property In Midwood, Brooklyn For $15M

2626 Kings Hwy, Brooklyn, NY 11229, USA

See Similar Deals
MultiFamily54,700 SF
Sold 08/29/2018
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$274
Total Square Footage:54,700 SF
Transaction Type:Sale

The multi-family property located at 2626 Kings Highway in Midwood, Brooklyn has been sold for a price of $15,000,000. The property spans a total area of 54,700 square feet, resulting in a price per square foot of $274. The transaction was completed by Ace Management and Schwartz Real Estate as the buyers, while 2626 Kings Highway, LLC / Landau Real Estate acted as the sellers. The deal was facilitated by brokers Michael Guttman and Aaron Jungreis from Rosewood Realty Group.

Summary of transaction details

  • Property Type: Multi Family
  • Transaction Amount: $15,000,000
  • Address: 2626 Kings Highway, Midwood, Brooklyn
  • Square Footage: 54,700
  • Price per Square Foot: $274
  • Seller: 2626 Kings Highway, LLC / Landau Real Estate
  • Buyer: Ace Management/Schwartz Real Estate
  • Brokers: Michael Guttman & Aaron Jungreis from Rosewood Realty Group

The successful transaction at 2626 Kings Highway involved Ace Management and Schwartz Real Estate as the buyers, who acquired the multi-family property for $15,000,000. The property spans an area of 54,700 square feet, commanding a price per square foot of $274. Acting as the sellers were 2626 Kings Highway, LLC / Landau Real Estate. The deal was facilitated by Michael Guttman and Aaron Jungreis from Rosewood Realty Group.

Players

Aaron Jungreis
204 deals$4.3B volume(212) 359-9900
BROKER

Michael Guttman
Rosewood Realty Group
17 deals$174.9M volume
BROKER

SELLER

Details

SOLD
IMAGE: Michael Guttman and Aaron Jungreis DATE: 08/29/2018 ADDRESS: 2626 Kings Highway MARKER: Midwood, Brooklyn ASSET TYPE: Multi Family SALE PRICE: $15,000,000 SF: 54,700 PPSF: $274 SELLER: 2626 KINGS HIGHWAY, LLC / Landau Real Estate BUYER: Ace Management/Schwartz Real Estate BROKERS: @rosewoodrealtygroupny – Michael Guttman & Aaron Jungreis

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$799,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83