Updated Nov 14, 2025
Akiva Kurland Of Yellow Jack Equities Purchases Multifamily Asset At 616-624 Flatbush Avenue For $8.3M
616 Flatbush Avenue & 624 Flatbush Avenue
$8,300,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 26, 2025
About this deal
AI
The property asset involved in the transaction is a multifamily building located at 616-624 Flatbush Avenue in the Prospect Lefferts Gardens market. The transaction price for this asset was $8,300,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,300,000
- Buyer: Akiva Kurland - Yellow Jack Equities
- Seller: Larry Bernstein - Jonas Equities
- Address: 616-624 Flatbush Avenue
- Market: Prospect Lefferts Gardens
Jonas Equities sold the property which includes the Scoops ice cream shop, realizing a significant loss compared to its initial purchase price of $14,000,000 a decade ago.
On the Map
$8,300,000
MultiFamily
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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
1.91%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93