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690 Ocean Parkway

Updated Sep 5, 2024

Barcel Group Sells Brooklyn Multifamily For $14.95M With Marcel Fridman's Representation
SOLDMultiFamily

Barcel Group Sells Brooklyn Multifamily For $14.95M With Marcel Fridman's Representation

690 Ocean Parkway

$14,950,000

$186/SF

Building Size

80,000 SF

Asset Type

MultiFamily

Closing

Sep 22, 2022

About this deal

AI

The multifamily property located in Brooklyn has recently been sold for a price of $14,950,000. This sale marks the first change in ownership for the property in over 40 years. The property consists of 82 units with an average price per unit of $182,317. The total square footage of the property is approximately 80,000 square feet, resulting in a price per square foot of $186.

Summary of Transaction Details

  • Property Type: Multifamily
  • Transaction Amount: $14,950,000
  • Units: 82
  • Price per Unit: $182,317
  • Square Footage: 80,000
  • Price per Square Foot: $186

The transaction was facilitated by broker Marcel Fridman from Barcel Group. As the representative of the seller or buyer, Marcel Fridman played an integral role in the successful completion of the deal.

Players

Marcel Fridman

Barcel Group

Broker

$468.3M

vol

146 deals

Broker

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $186 per square foot on a published $15M for 80,000 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.06%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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