Alpha Realty Brokers Lev Mavashev & Daniel Aminov Facilitate $26.8M Sale Of Multifamily Property On Union Avenue, NYC
SOLD
$26,800,000
New York
See Similar DealsMultiFamily64,650 SF
Sold 06/09/2023
SOLD
Alpha Realty Brokers Lev Mavashev & Daniel Aminov Facilitate $26.8M Sale Of Multifamily Property On Union Avenue, NYC
525 Union Ave Brooklyn, Ny 11211, Usa
See Similar DealsMultiFamily64,650 SF
Sold 06/09/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$414
Total Square Footage:64,650 SF
Transaction Type:Sale
A multifamily property located at 525 Union Avenue in New York City has been sold for a total of $26,800,000. The property consists of 43 units, with an average price per unit of $623,256. The total square footage of the property is 64,650, with a price per square foot of $415.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $26,800,000
- Address: 525 Union Avenue, New York City
- Market: New York City
- Brokers: Lev Mavashev & Daniel Aminov - Alpha Realty
- Units: 43
- Price per Unit: $623,256
- Square Footage: 64,650
- Price per Square Foot: $415
Lev Mavashev and Daniel Aminov from Alpha Realty represented the parties involved in the transaction. Their expertise and negotiation skills played a crucial role in the successful sale of the property. Both brokers are well-respected in the industry and have a strong track record of closing similar deals.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,429,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$95,214.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$127,045.67
Annual Debt Service$1,524,548.07
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