Reda Holdings Acquires Property From Kushner Companies At 50 N 1st St Brooklyn For $34.96M
50 N 1st St, Brooklyn, NY, 11249
$34,960,000
$639/SF
Building Size
54,698 SF
Asset Type
MultiFamily
Closing
Feb 6, 2023
AI
The property located at 50 N 1st St, Brooklyn, NY, 11249, was sold for a total price of $34,960,000.00. This asset spans a total square footage of 54,698 and is situated within the Brooklyn market.
Summary of transaction details:
- Property Type: Not specified
- Transaction Amount: $34,960,000.00
- Address: 50 N 1st St, Brooklyn, NY, 11249
- Market: Brooklyn
- Seller: Kushner Companies
- Buyer: Reda Holdings
- Seller's Representative: Daniel "Dan" Lebor-Terra CRG
Daniel "Dan" Lebor-Terra CRG represented the seller, Kushner Companies, in this transaction. Reda Holdings acted as the buyer in this deal.
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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93