Reda Holdings Acquires Property From Kushner Companies At 50 N 1st St Brooklyn For $34.96M
SOLD
$34,960,000
New York
See Similar DealsMultiFamily54,698 SF
Sold 02/06/2023
SOLD
Reda Holdings Acquires Property From Kushner Companies At 50 N 1st St Brooklyn For $34.96M
50 N 1st St, Brooklyn, NY, 11249
See Similar DealsMultiFamily54,698 SF
Sold 02/06/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$639
Total Square Footage:54,698 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,864,533.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$124,205.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$165,728.24
Annual Debt Service$1,988,738.83
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