Atlas Realty Group Partners LLC Acquires Multifamily Asset In Brighton Beach, Bensonhurst For $12.5M
SOLD
$12,500,000
New York
See Similar DealsMultiFamily54,000 SF
Sold 06/07/2022
SOLD
Atlas Realty Group Partners LLC Acquires Multifamily Asset In Brighton Beach, Bensonhurst For $12.5M
2985 Ocean Parkway, Brooklyn, New York 11235, United States
See Similar DealsMultiFamily54,000 SF
Sold 06/07/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$231
Total Square Footage:54,000 SF
Transaction Type:Sale
The asset involved in the transaction is located at 2985 Ocean Pkwy. & 2301 65th Street within the Brighton Beach, Bensonhurst market. This multifamily property features 66 units and encompasses a total square footage of 54,000. The sale price of the property was $12,500,000, resulting in a price per unit of $189,393 and a price per square foot of $231.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $12,500,000
- Units: 66
- Square Footage: 54,000
- Price Per Unit: $189,393
- Price Per Square Foot: $231
- Address: 2985 Ocean Pkwy. & 2301 65th Street
- Market: Brighton Beach, Bensonhurst
The individuals involved in this transaction include brokers Yosef Katz, Erik Yankelovich, Shlomo Antebi, and Sam Schwartz, representing Atlas Realty Group Partners LLC in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$666,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,409.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,256.38
Annual Debt Service$711,076.53
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