Shlomo Stuhl And Herman Rubin Acquire Multifamily Property From Mark Mehlman And Michael Lipman For $12.75M
SOLD
New York
See Similar DealsMultiFamily80,668 SF
Sold 06/04/2019
SOLD
Shlomo Stuhl And Herman Rubin Acquire Multifamily Property From Mark Mehlman And Michael Lipman For $12.75M
650 East 21st St & 738 East 21st St
See Similar DealsMultiFamily80,668 SF
Sold 06/04/2019
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$158
Total Square Footage:80,668 SF
Transaction Type:Sale
The property asset involved in this transaction is a MultiFamily building located at 650 East 21st St in the Brooklyn market. It was sold for $12,750,000.00 and has a total square footage of 40,334.0 sq ft.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $12,750,000.00
- Address: 650 East 21st St
- Market: Brooklyn
- Square Feet: 40,334.0
- Buyer: Shlomo Stuhl and Herman Rubin
- Seller: Mark Mehlman, Michael Lipman, and Brian Shalitsky
- Brokers: Erik Yankelovich (Atlas Realty Group), Moshe Gelbstein (GFI Realty Services), Joseph Landau
The key individuals in this transaction include buyers Shlomo Stuhl and Herman Rubin, and sellers Mark Mehlman, Michael Lipman, and Brian Shalitsky. The associated brokers who facilitated this deal are Erik Yankelovich representing the buyer from Atlas Realty Group, Moshe Gelbstein representing the buyer from GFI Realty Services, along with Joseph Landau as part of the brokerage team.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$679,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$45,298.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$60,441.50
Annual Debt Service$725,298.06
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