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290 East 53rd Street, Brook...

Barberry Rose Management Acquires Multifamily Property In Brooklyn For $4.8M
SOLDMultiFamily

Barberry Rose Management Acquires Multifamily Property In Brooklyn For $4.8M

290 East 53rd Street, Brooklyn, NY, USA

$4,825,000

$186/SF

Building Size

25,836 SF

Asset Type

MultiFamily

Closing

Jun 24, 2018

AI

The multifamily property located at 290 East 53rd Street in New York City has been sold for $4,825,000. The property, owned by the Estate of Toby Grushko, was purchased by Barberry Rose Management, represented by Lewis Barbanel. The transaction was brokered by Michael Guttman and Aaron Jungreis from Rosewood Realty Group. The property spans 25,836 square feet and consists of 27 units, with an average price per square foot of $186.00 and a price per unit of $178,000.

Summary of transaction details

Barberry Rose Management, led by Lewis Barbanel, successfully acquired the multifamily property located at 290 East 53rd Street in Brooklyn, New York. This acquisition marks an important step for Barberry Rose Management in expanding its portfolio in the Brooklyn market. Michael Guttman and Aaron Jungreis from Rosewood Realty Group played a key role in facilitating the transaction, ensuring a smooth and successful deal for all parties involved.

Players

Aaron Jungreis

Rosewood Realty Group

Broker

$4.3B

vol

205 deals

Broker
Lewis Barbanel

Lewis Barbanel

Buyer

$181.6M

vol

16 deals

Buyer

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

3.29%

Cash-on-Cash

-0.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93