Meridian Properties And Michael Neamontakis Acquire Multifamily Asset In Brooklyn For $3.95M
SOLD
$3,950,000
New York
See Similar DealsMultiFamily11,036 SF
Sold 06/13/2017
SOLD
Meridian Properties And Michael Neamontakis Acquire Multifamily Asset In Brooklyn For $3.95M
369 Ocean Ave
See Similar DealsMultiFamily11,036 SF
Sold 06/13/2017
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$357
Total Square Footage:11,036 SF
Transaction Type:Sale
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.
Players
BUYER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$210,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,033.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,725.02
Annual Debt Service$224,700.18
Is there something missing? Send suggestions