Updated Oct 29, 2024
Meridian Properties Acquires 45000 SF Property At 601 Ocean Pkwy Brooklyn For $19.5M
601 Ocean Pkwy, Brooklyn, NY, 11218
$19,500,000
$433/SF
Building Size
45,000 SF
Asset Type
MultiFamily
Closing
Mar 10, 2016
About this deal
AI
The property at 601 Ocean Pkwy, Brooklyn, NY, 11218 encompasses a total area of 45,000 square feet, with a transaction price of $19,500,000. The market for this sale is Brooklyn.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $19,500,000.00
- Address: 601 Ocean Pkwy, Brooklyn, NY, 11218
- Market: Brooklyn
- Buyer: Meridian Properties
- Seller: Duo Ocean Parkway LLC
- Buyer's Representative: Eric Yankelovich - GFI Realty
- Seller's Representative: Eli Matyas - GFI Realty
The transaction involved Meridian Properties as the buyer and Duo Ocean Parkway LLC as the seller, with both parties represented by brokers from GFI Realty. Eric Yankelovich represented the buyer, while Eli Matyas represented the seller in this closed transaction.
Players
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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93