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
$12,750,000
$158/SF
Building Size
80,668 SF
Asset Type
MultiFamily
Closing
Jun 4, 2019
AI
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
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.24%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93