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Ben Josef Group Holdings Acquires Multifamily Property In Boerum Hill For $20M

Property Image
SOLD
$20,000,000
Luke Sproviero
Adam Lobel
+ 3

New York

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MultiFamily21,150 SF
Sold 06/19/2024
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Property Image
SOLD

Ben Josef Group Holdings Acquires Multifamily Property In Boerum Hill For $20M

82 4th Avenue

See Similar Deals
MultiFamily21,150 SF
Sold 06/19/2024
Luke Sproviero
Adam Lobel
+ 3
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$945
Total Square Footage:21,150 SF
Transaction Type:Sale

The multifamily property located at 82 4th Avenue in Boerum Hill, Brooklyn, was sold for $20,000,000. The asset comprises 30 units with a price per unit of $666,667 and spans 21,150 square feet, equating to a price per square foot of $946.

Summary of transaction details:

The deal involved key individuals and companies such as the buyer, The Ben Josef Family through Ben Josef Group Holdings, and the sellers, Abraham Posner and Charles Wurzberger. The transaction was facilitated by brokers Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, Samantha Katz, and Alon Kahan of Investment Property Realty Group (IPRG). For more insights on the deal, the brokerage encourages visiting their Instagram page @iprg_ny.

Players

Adam Lobel
137 deals$583.5M volume(314) 920-8639
BROKER

Derek Bestreich
Investment Property Realty Group (IPRG)
312 deals$1.1B volume(718) 360-8802
BROKER

Luke Sproviero
Investment Property Realty Group (IPRG)
222 deals$848.7M volume
BROKER

Toby Waring
Investment Property Realty Group (IPRG)
89 deals$348.6M volume
BROKER

Samantha Katz
Investment Property Realty Group (IPRG)
17 deals$91.5M volume(718) 360-4834
BROKER

Alon Kahan
Investment Property Realty Group (IPRG)
12 deals$64.6M volume
BROKER

Details

SOLD
IMAGE: Derek Bestreich, Luke Sproviero, Adam Lobel & Toby Waring DATE: 06/19/2024 ADDRESS: 82 4th Avenue MARKET: Boerum Hill, Brooklyn ASSET TYPE: Multifamily BUYER: The Ben Josef Family - Ben Josef Group Holdings SELLER: Abraham Posner & Charles Wurzberger BROKERS: Derek Bestreich (@DerekBestreich), Luke Sproviero (@LukeSproviero), Adam Lobel (@AdamLobelRealEstate), Toby Waring (@BklynBricks), Samantha Katz (@Skatz.NYC) & Alon Kahan - Investment Property Realty Group (IPRG) (@IPRG_NY) SALE PRICE: $20,000,000 UNITS: 30 ~ PPU: $666,667 SF: 21,150 ~ PPSF: $946 NOTE FROM BROKER: For the deal story, visit our Instagram page @iprg_ny

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

$1,066,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44