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Albert Srour Acquires Multifamily Property In Midwood For $18M

Property Image
SOLD
$18,000,000
Zalman Yarmush
Daniel Greenblatt
+ 3

New York

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MultiFamily76,438 SF
Sold 07/19/2019
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Property Image
SOLD

Albert Srour Acquires Multifamily Property In Midwood For $18M

800 Avenue H, Brooklyn, NY 11230, USA

See Similar Deals
MultiFamily76,438 SF
Sold 07/19/2019
Zalman Yarmush
Daniel Greenblatt
+ 3
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$235
Total Square Footage:76,438 SF
Transaction Type:Sale

Located in the Midwood/Brooklyn market, the multifamily property at 800 Avenue H has recently been sold. The property spans a total area of 76,438 square feet and was sold for a price of $18,000,000, slightly lower than the initial asking price of $19,950,000. With a price per square foot of $235, this transaction showcases the vibrant real estate market in the area.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $18,000,000
  • Address: 800 Avenue H, Midwood/Brooklyn
  • Square Footage: 76,438
  • Price per Square Foot: $235

Peter Von Der Ahe, Joe Koicim, Shaun Riney, Mark Zarrella, Dan Greenblatt, and Zalman Yarmush were the brokers involved in this transaction, representing the respective parties. The seller, Bonnie Gold, and the buyer, Albert Srour, successfully closed this deal with the help of these experienced brokers. This successful transaction highlights the expertise and knowledge of these professionals in the real estate market.

Players

Peter Von Der Ahe
110 deals$1.4B volume
BROKER

Zalman Yarmush
Yarmush Investment Group
25 deals$90.8M volume(347) 534-7267
BROKER

Daniel Greenblatt
Marcus & Millichap
69 deals$263.4M volume
BROKER

Joseph (Joe) Koicim
Marcus & Millichap
172 deals$2.7B volume(212) 430-5147
BROKER

Shaun Riney
Marcus & Millichap
355 deals$1.8B volume(718) 475-4369
BROKER

Details

SOLD
IMAGE: Peter Von Der Ahe, Joe Koicim, Shaun Riney, Mark Zarrella, Dan Greenblatt, Zalman Yarmush DATE: 07/19/2019 ADDRESS: 800 Avenue H MARKET: Midwood/Brooklyn ASSET TYPE: Multifamily ASKING PRICE: $19,950,000 SALE PRICE: $18,000,000 SF: 76,438 PPSF: $235 SELLER: Bonnie Gold BUYER: Albert Srour BROKERS: Peter Von Der Ahe, Joe Koicim, Shaun Riney, Mark Zarrella, Dan Greenblatt, […]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$960,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20