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115 Henry St, Brooklyn, NY ...

Investors George And Peter Eliou Acquire Brooklyn Heights Rental Building For $35.5M
SOLDOther

Investors George And Peter Eliou Acquire Brooklyn Heights Rental Building For $35.5M

115 Henry St, Brooklyn, NY 11201, USA

Building Size

320,000 SF

Asset Type

Other

Closing

Mar 13, 2018

AI

A rental building located at 115 Henry Street in the Brooklyn Heights neighborhood of New York City has been sold for a total price of $35,500,000. The property spans a total area of 32,000 square feet and has 38 units. The price per square foot for the transaction amounts to $1,109, and the price per unit is $934,000.

Summary of transaction details

  • Property Type: Rental building
  • Transaction Amount: $35,500,000
  • Square Footage: 32,000 sf
  • Price per Square Foot: $1,109
  • Number of Units: 38
  • Price per Unit: $934,000

The seller of this property is Bennat Charatan Berger and Andrew Miller's Novel Property Ventures, which can be found at NovelPV.com. The buyer, on the other hand, is a group of investors named George and Peter Eliou.

Players

Peter Eliou

Buyer

$25M

vol

2 deals

Buyer

Andrew Miller

Novel Property Ventures

Seller

$123.5M

vol

3 deals

Seller
NV
Novel Property VenturesSeller

New York Other Market Snapshot

Boundary boundary · Other · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93