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
- Property Type: MultiFamily
- Transaction Amount: $2,000,000
- Property Address: 375 East 28th Street
- Market: Flatbush, Brooklyn
- Buyer: Eli Shillian
- Seller: Michael Ehrenreich
- Brokers: Avraham Birnbaum & Yaakov Pliner - Twelve Stones Realty
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
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