Updated Oct 28, 2024
AB & Sons Acquires 50% Interest In Multifamily Properties In Hell's Kitchen & Morningside Heights For $200M
Hell's Kitchen, Manhattan
$200,000,000
Units
950
Asset Type
MultiFamily
Closing
Jul 1, 2020
About this deal
AI
Eli Chetrit and Isaac Chetrit have recently closed an interest sale transaction in Hell's Kitchen and Morningside Heights, involving a multifamily property consisting of approximately 950 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $200,000,000 (approx.)
- Buyer: AB & Sons - Isaac & Eli Chetrit
- Seller: Black Spruce Management - Josh Gotlib & Oliver Legg
The transaction involved the sale of a 50% interest in the property. AB & Sons, represented by Isaac and Eli Chetrit, acquired the interest from the seller, Black Spruce Management, represented by Josh Gotlib and Oliver Legg.
On the Map
$200,000,000
MultiFamily
View full map
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Eli Chetrit to view all their deals.
Browse New York multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93