Updated Oct 29, 2024
Bronstein Properties Acquires Property From Michael M. Lee & Co For $20M With Amit Doshi's Representation
8405 108th St, Queens, NY, 11418
$20,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 18, 2015
About this deal
AI
Two multifamily buildings located at 86-02 Park Lane South and 8405 108th St in Woodhaven, Queens, were acquired by Bronstein Properties. The total transaction price for the properties was $20,000,000.00. The properties are part of the Richmond Hill market with a square footage recorded at 0.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $20,000,000.00
- Buyer: Bronstein Properties
- Seller: Michael M. Lee & Co
- Buyer's Representative: Amit Doshi (Meridian Capital Group)
Amit Doshi acted as the sole broker in this transaction, representing the buyer, Bronstein Properties. The acquisition included two properties, enhancing Bronstein's portfolio in the multifamily housing sector.
On the Map
$20,000,000
MultiFamily
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Players
Richmond Hill MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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