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395 Leonard Street

Updated Jan 23, 2025

Pacific Urban Investors Purchases Multifamily Asset From UDR In Brooklyn For $127.5M
SOLDMultiFamily

Pacific Urban Investors Purchases Multifamily Asset From UDR In Brooklyn For $127.5M

395 Leonard Street

$127,500,000

$682/SF

Building Size

186,779 SF

Asset Type

MultiFamily

Closing

Jan 15, 2025

About this deal

AI

The property asset involved in this transaction is a multifamily building located at 395 Leonard Street in Brooklyn. The sale price was $127,500,000 for the asset which comprises 188 units. The total square footage of the asset is 126,851, resulting in a price per unit of $678,191 and a price per square foot of $1,005.

Summary of transaction details:

The key individuals involved in this transaction include the buyer, Pacific Urban Investors, and the seller, UDR. The brokers representing the transaction are Rob Hinckley, Jeffrey Julien, Steven Rutman, and Ethan Stanton from JLL, who facilitated the sale details between the involved parties.

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$127,500,000

$682/SF

MultiFamily

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Players

Ethan Stanton

JLL

Broker

$6.5B

vol

143 deals

Broker
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Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $682 per square foot on a published $127.5M for 186,779 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.12%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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