Updated Dec 4, 2024
Meridian Properties Acquires Multifamily Building From Semen Family In Bensonhurst For $6M
7920 19th Avenue
$6,000,000
$125/SF
Building Size
48,000 SF
Asset Type
MultiFamily
Closing
Aug 23, 2024
About this deal
AI
The property asset involved in the transaction is a multifamily building located at 7920 19th Avenue in Bensonhurst, Brooklyn. The sale price was $6,000,000 for this well-managed building, which comprises 48 units and covers a total area of 48,000 square feet. The price per unit was calculated at $125,000, and the price per square foot is also $125.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,000,000
- Units: 48
- Square Footage: 48,000
- Price per Unit: $125,000
- Price per Square Foot: $125
- Buyer: Meridian Properties
- Seller: Semen Family
- Brokers: John Brennan & Bryan Ellis - Marcus & Millichap
John Brennan and Bryan Ellis represented the seller, Semen Family, in this transaction. The brokers noted that the building has an excellent history of rent collections and minimal violations, emphasizing its well-managed nature.
On the Map
$6,000,000
$125/SF
MultiFamily
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Brooklyn 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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93