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375 East 28th Street

Eli Shillian Acquires MultiFamily Building In Flatbush, Brooklyn For $2M
SOLDMultiFamily

Eli Shillian Acquires MultiFamily Building In Flatbush, Brooklyn For $2M

375 East 28th Street

$2,000,000

$463/SF

Building Size

4,315 SF

Asset Type

MultiFamily

Closing

Sep 29, 2023

AI

A multi-family property located at 375 East 28th Street in Flatbush, Brooklyn, has been sold for a total price of $2,000,000. The property consists of 6 units, with an average price per unit of $333,333. It spans a total area of 4,315 square feet, resulting in a price per square foot of $463.

Summary of transaction details

The buyer for this transaction is Eli Shillian, while the seller is Michael Ehrenreich. The deal was facilitated by brokers Avraham Birnbaum and Yaakov Pliner from Twelve Stones Realty. They played a crucial role in bringing both parties together and negotiating the terms of the sale.

Players

Avraham Birnbaum

Twelve Stones Realty

Broker

$44.7M

vol

24 deals

Broker

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

7.93%

Cash-on-Cash

-2.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93