Arch Companies Acquires Multifamily Property In Prospect Lefferts Gardens For $58M
SOLD
$58,000,000
New York
See Similar DealsMultiFamily132,000 SF
Sold 05/06/2022
SOLD
Arch Companies Acquires Multifamily Property In Prospect Lefferts Gardens For $58M
1580 Nostrand Avenue, Brooklyn, New York 11226, United States
See Similar DealsMultiFamily132,000 SF
Sold 05/06/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$439
Total Square Footage:132,000 SF
Transaction Type:Sale
The multifamily property located at 1580 Nostrand Ave. in Prospect Lefferts Gardens has been sold in a recent transaction. The sale was facilitated by brokers Greg Corbin and Aaron Jungreis from Rosewood Realty Group. The buyer, represented by Jeffrey Simpson of Arch Companies, purchased the property from Madison Realty Capital.
Summary of transation details
- Property Type: Multifamily
- Sale Price: $58,000,000
- Square Footage: 132,000
- Price per Square Foot: $439
- Number of Units: 210
- Price per Unit: $276,190
The sale of this multifamily property marks a significant transaction in Prospect Lefferts Gardens. Greg Corbin and Aaron Jungreis from Rosewood Realty Group played a crucial role as the brokers representing both the buyer, Jeffrey Simpson, and the seller, Madison Realty Capital.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,093,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$206,061.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$274,949.59
Annual Debt Service$3,299,395.08
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