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82 4th Avenue

Updated Dec 4, 2024

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

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

82 4th Avenue

$20,000,000

$945/SF

Building Size

21,150 SF

Asset Type

MultiFamily

Closing

Jun 19, 2024

About this deal

AI

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.

On the Map

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$20,000,000

$945/SF

MultiFamily

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Players

Adam Lobel

Investment Property Realty Group (IPRG)

Broker

$647.1M

vol

149 deals

Broker
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Brooklyn MultiFamily Market Snapshot

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Deal FAQ

About $945 per square foot on a published $20M for 21,150 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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