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
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