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556 82nd Street

Ilias Theodoropoulos Acquires Multifamily Asset In Brooklyn From Allen Gross For $1.5M
SOLDMultiFamily

Ilias Theodoropoulos Acquires Multifamily Asset In Brooklyn From Allen Gross For $1.5M

556 82nd Street

$1,500,000

$274/SF

Building Size

5,475 SF

Asset Type

MultiFamily

Closing

Oct 30, 2019

AI

The property asset involved in this transaction is a multifamily building located at 556 82nd Street in the Brooklyn market. The sale price of this property was $1,500,000.00, and it has a total square footage of 5,475.0.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $1,500,000.00
  • Address: 556 82nd Street
  • Market: Brooklyn
  • Square Footage: 5,475.0
  • Buyer: Ilias Theodoropoulos
  • Seller: Allen Gross (GFI Capital Group)
  • Broker Representatives: Natan Safdieh (Atlas Realty Group), Shlomo Antebi (Atlas Realty Group), Yosef Katz (Atlas Realty Group)

The deal featured Ilias Theodoropoulos as the buyer and Allen Gross representing GFI Capital Group as the seller. The transaction was facilitated by three broker representatives from Atlas Realty Group: Natan Safdieh, Shlomo Antebi, and Yosef Katz, who played key roles in the negotiation and completion of the sale.

Players

Natan Safdieh

Atlas Realty Group

Broker

$113.5M

vol

22 deals

Broker

Ilias Theodoropoulos

Buyer

$33.9M

vol

4 deals

Buyer
Allen Gross

Allen Gross

GFI Capital Group

Seller

$191.1M

vol

5 deals

Seller

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

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93