Updated Apr 9, 2025
Meridian Properties And Michael Neamontakis Acquire Multifamily Asset In Brooklyn For $3.95M
369 Ocean Ave
$3,950,000
$357/SF
Building Size
11,036 SF
Asset Type
MultiFamily
Closing
Jun 13, 2017
About this deal
AI
The property asset involved is a MultiFamily unit located at 369 Ocean Ave in the Brooklyn market. The transaction closed on June 13, 2017, with a total price of $3,950,000.00 for a square footage of 11,036.0.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $3,950,000.00
- Address: 369 Ocean Ave
- Market: Brooklyn
- Square Footage: 11,036.0
- Buyer: Meridian Properties and Michael Neamontakis
- Seller: Leon Goldenberg and Michael Lipman
- Brokers: Erik Yankelovich - Atlas Realty Group
In this transaction, Meridian Properties and Michael Neamontakis acted as the buyers, while Leon Goldenberg and Michael Lipman served as the sellers. The deal was facilitated by Erik Yankelovich representing Atlas Realty Group.
On the Map
$3,950,000
$357/SF
MultiFamily
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Players
Brooklyn 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
4.02%
Cash-on-Cash
-1.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93