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346 E 29th St, Brooklyn, NY...

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
SOLDMultiFamily

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.

Players

Aaron Jungreis

Rosewood Realty Group

Broker

$4.4B

vol

214 deals

Broker
AM
Abro ManagementBuyer
CM
CBZ ManagementSeller

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $338 per square foot on a published $22.7M for 67,000 square feet.

Visit Mike Kerwin to view all their deals.

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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

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