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Meridian Capital Group brok...

Avi Philipson Acquires 133-Unit Multifamily Property In Brooklyn For $435M
SOLDMultiFamily

Avi Philipson Acquires 133-Unit Multifamily Property In Brooklyn For $435M

$435,000,000

$352/SF

Building Size

1,234,369 SF

Asset Type

MultiFamily

Closing

Apr 5, 2023

AI

All Year Holdings, owned by Yoel Goldman, has sold a multifamily property located in Brooklyn, New York. The property was acquired by Avi Philipson for a total sale price of $435,000,000. The transaction was facilitated by David Schechtman, Tamir Kazaz, Abie Kassin, Amit Doshi, and Shallini Mehra from Meridian Capital Group as the brokers.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $435,000,000
  • Units: 133
  • Price per Unit (PPU): $3,270,677
  • Square Footage: 1,234,369
  • Price per Square Foot (PPSF): $352
  • Market: Brooklyn

The sale of this multifamily property marks a significant transaction in the Brooklyn real estate market. The property consists of 133 units with a total square footage of 1,234,369. The sale price of $435,000,000 translates to a price per unit (PPU) of $3,270,677 and a price per square foot (PPSF) of $352.

Players

Abie Kassin

Meridian Capital Group

Broker

$1.6B

vol

52 deals

Broker

Avi Philipson

Buyer

$607M

vol

3 deals

Buyer

Yoel Goldman

All Year Holdings

Seller

$473.8M

vol

8 deals

Seller

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

0.04%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93