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60 Hawthorne St, Brooklyn, ...

The Garden Group Acquires Multifamily Properties In Brooklyn For $4.35M With Buyer's Rep Marcel Fridman & Seller's Rep Ian Mednick & Scott Klein - Compass
SOLDMultiFamily

The Garden Group Acquires Multifamily Properties In Brooklyn For $4.35M With Buyer's Rep Marcel Fridman & Seller's Rep Ian Mednick & Scott Klein - Compass

60 Hawthorne St, Brooklyn, NY, USA

$4,350,000

$472/SF

Building Size

9,210 SF

Asset Type

MultiFamily

Closing

Dec 22, 2020

AI

The Garden Group, represented by Mendy Fleischman, purchased three vacant multifamily buildings located at 60, 62, and 64 Hawthorne St. in Brooklyn. The properties, with a total of 24 units, were sold by Jason Bijur. The transaction was facilitated by Marcel Fridman from the Barcel Group, who represented the buyer, and Ian Mednick and Scott Klein from Compass, who represented the seller. The sale price for the buildings was $4,350,000, resulting in a price per square foot of $472 and a per unit price of $181,250. The total square footage of the buildings is 9,210.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $4,350,000
  • Address: 60, 62, 64 Hawthorne St., Brooklyn
  • Market: Brooklyn
  • Units: 24
  • Square Footage: 9,210
  • Price Per Square Foot: $472
  • Price Per Unit: $181,250
  • Buyer: The Garden Group
  • Seller: Jason Bijur
  • Buyer's Representative: Marcel Fridman - Barcel Group
  • Seller's Representatives: Ian Mednick & Scott Klein - Compass

The transaction involved the acquisition of 24 vacant units within the three buildings.

Players

Marcel Fridman

Barcel Group

Broker

$456.5M

vol

142 deals

Broker

New York 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

3.65%

Cash-on-Cash

-1.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93