Fairstead Capital And Meadow Partners Acquire Multifamily Building In Brooklyn Navy Yard
SOLD
$67,250,000
+ 1
New York
See Similar DealsMultiFamily184,411 SF
Sold 10/30/2019
SOLD
Fairstead Capital And Meadow Partners Acquire Multifamily Building In Brooklyn Navy Yard
275 Park Ave, Brooklyn, NY 11205, USA
See Similar DealsMultiFamily184,411 SF
Sold 10/30/2019
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$364
Total Square Footage:184,411 SF
Transaction Type:Sale
The multifamily property located at 275 Park Avenue in Brooklyn Navy Yard has been sold for a total price of $67,250,000. The property spans 184,411 square feet, resulting in a price per square foot of $364. It consists of 123 units, with an average price per unit of $546,747.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $67,250,000
- Square Footage: 184,411
- Price per Square Foot: $364
- Number of Units: 123
- Price per Unit: $546,747
The sellers of the property were Brickman & HK Organization, while the buyers were Fairstead Capital and Meadow Partners. The deal was facilitated by brokers Paul Gillen, Daniel Parker, Kyle van Buitenen, and Ariel Tambor.
Players
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SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$238,925.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$318,799.31
Annual Debt Service$3,825,591.71
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