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Kurland Family Acquires 15-Unit Multifamily Building In Brooklyn For $1.35M

Property Image
SOLD
$1,350,000
Shlomo Antebi
Erik Yankelovich
+ 1

New York

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MultiFamily11,520 SF
Sold 08/23/2023
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Property Image
SOLD

Kurland Family Acquires 15-Unit Multifamily Building In Brooklyn For $1.35M

390 E 21st St Brooklyn, NY 11226, USA

See Similar Deals
MultiFamily11,520 SF
Sold 08/23/2023
Shlomo Antebi
Erik Yankelovich
+ 1
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$117
Total Square Footage:11,520 SF
Transaction Type:Sale

The asset involved in this transaction is a multifamily property located at 390 East 21st Street in Brooklyn, NY. The sale price of the property was $1,350,000, featuring a total of 15 units. The property encompasses a total square footage of 11,520, resulting in a price per unit of $90,000 and a price per square foot of $117.

Summary of transaction details:

The transaction involved key individuals and companies, including the Kurland Family as the buyers and the Johnson Family as the sellers. The brokers representing the transaction were Erik Yankelovich, Shlomo Antebi, Yosef Katz, and Sam Schwartz from Atlas Realty Group, facilitating the deal in the multifamily market.

Players

Erik Yankelovich
127 deals$1B volume
BROKER

Yosef Katz
Atlas Realty Group
133 deals$1.1B volume
BROKER

Shlomo Antebi
Atlas Realty Group
138 deals$1B volume
BROKER

Details

SOLD
IMAGE: Shlomo Antebi, Sam Schwartz, Yosef Katz & Erik Yankelovich DATE: 08/23/2023 ADDRESS: 390 East 21st Street MARKET: Brooklyn, NY ASSET TYPE: Multifamily BUYER: Kurland Family SELLER: Johnson Family BROKERS: Erik Yankelovich, Shlomo Antebi, Yosef Katz (@Katz.Yosef) & Sam Schwartz (@SamSchwartz33) - Atlas Realty Group (@Atlas.Realty.Group) SALE PRICE: $1,350,000 UNITS: 15 ~ PPU: $90,000 SF: 11,520 ~ PPSF: $117

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$72,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,796.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,399.69
Annual Debt Service$76,796.26