Aaron Wexler & Howard Hershkovich Acquires Multifamily Building In Bushwick For $3.75M
950 Hart Street, Bushwick, Brooklyn, NY, USA
$3,750,000
$213/SF
Building Size
17,550 SF
Asset Type
MultiFamily
Closing
Feb 16, 2021
AI
An multifamily property located at 950 Hart Street in Bushwick has been sold. The property consists of 21 units, with each unit being sold at an average price of $178,571. The transaction took place on February 17, 2021, with the sale price of the property being $3,750,000. The buyer of the property is Aaron Wexler and Howard Hershkovich, while the seller is Red Sky Capital. The deal was facilitated by brokers Aaron Jungreis and Michael Guttman from RosewoodRG.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,750,000
- Units: 21
Aaron Wexler and Howard Hershkovich were the buyers of the property, while Red Sky Capital acted as the seller. The transaction was handled by brokers Aaron Jungreis and Michael Guttman from RosewoodRG.
Players
New York 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
4.23%
Cash-on-Cash
-1.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93