Updated Oct 29, 2024
Abro Management Acquires MultiFamily Property In Brooklyn For $22.7M With Sellers CBZ Management And Brokers Aaron Jungreis And Mike Kerwin
346 E 29th St, Brooklyn, NY 11226, USA
$22,700,000
$338/SF
Building Size
67,000 SF
Asset Type
MultiFamily
Closing
Aug 1, 1918
About this deal
AI
The sale of a multifamily property at 346 East 29th Street in Brooklyn, New York has been completed for a total price of $22,700,000. The property spans approximately 67,000 square feet.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $22,700,000
- Address: 346 East 29th Street, New York
- Market: Brooklyn
The sellers of the property were CBZ Management, while the buyers were Abro Management. The deal was facilitated by Aaron Jungreis and Mike Kerwin from Rosewood Realty Group.
The multifamily sale at 346 E 29th St, Brooklyn, NY 11226, USA in New York, New York sold for $22.7M. The building is 67,000 square feet, implying about 338 per square foot on the published price. Mike Kerwin, Aaron Jungreis, Rosewood Realty Group appear on the sale alongside Rosewood Realty Group. This page is the New York, New York file for the 346 E 29th St, Brooklyn, NY 11226, USA multifamily sold: pricing, party profiles, and other closed multifamily comps from the same New York sit in the Market section below. Published consideration for 346 E 29th St, Brooklyn, NY 11226, USA is $22.7M. Cite this Abro Management Acquires MultiFamily Property In Brooklyn For $22.7M With Sellers CBZ Management And Brokers Aaron Jungreis And Mike Kerwin sale when underwriting similar multifamily product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93