facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Multifamily

/

Sale

/

675 Lincoln Avenue

Rick Gropper Of Camber Property Group Acquires Linden Plaza Multifamily In East New York For $1B
SOLDMultiFamily

Rick Gropper Of Camber Property Group Acquires Linden Plaza Multifamily In East New York For $1B

675 Lincoln Avenue

$1,000,000,000

Building Size

Asset Type

MultiFamily

Closing

Jan 8, 2025

AI

The multifamily asset involved in this transaction is located at 675 Lincoln Avenue, East New York, Brooklyn. The property was sold for a total amount of $1,000,000,000, consisting of 1,527 units, resulting in a price per unit of $654,879. The acquisition aims to address significant improvements and renovations needed for the property.

Summary of transaction details:

The deal was facilitated by Rick Gropper representing Camber Property Group, which is committed to resolving long-standing issues related to hazardous living conditions at the property. The financing was supported by significant contributions from multiple lenders, including J.P. Morgan Chase, coordinating efforts to enhance living standards in the multifamily housing sector.

Players

Merchants Capital
Merchants CapitalLender

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

0.02%

Cash-on-Cash

-0.00%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93