Updated Jan 15, 2025
Ed Ostad Acquires Package Deal Of 80 Apartments And 32 Retail Stores From Pintchik Family For $102.5M
$102,000,000
$1,360/SF
Building Size
75,000 SF
Asset Type
Package Deal
Closing
Jan 10, 2025
About this deal
AI
The asset involved in this transaction is a Package Deal consisting of 80 apartment units and 32 retail stores located in Brooklyn. The total sale price for this property is $102,500,000, and it encompasses a total square footage of 115,000.
Summary of transaction details:
- Property Type: Package Deal (80 Apartments & 32 Retail Stores)
- Transaction Amount: $102,500,000
- Buyer: Ed Ostad
- Seller: Pintchik Family
- Broker: Richard Velotta - Raven Property Advisors
This transaction involves Ed Ostad as the buyer and the Pintchik Family as the seller, with Richard Velotta from Raven Property Advisors representing the broker in the deal.
Market Package Deal Market Snapshot
Boundary boundary · Package Deal · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93