Jeff Krasnoff Of Rialto Capital Management And Stephen A. Schwarzman Of Blackstone Acquire Condo From Jeff Sutton For $8.57M In Brooklyn Heights
160 Montague Street
$8,566,885
$3,439/SF
Building Size
2,491 SF
Asset Type
Condo
Closing
Jul 27, 2025
About this deal
AI
A retail condo was sold at 160 Montague Street in Brooklyn Heights, Brooklyn, for a total sale price of $8,566,885. The property spans 2,491 square feet, equating to a price per square foot of $3,439. The acquisition represents an important transaction in the market, completed via a credit bid.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $8,566,885
- Buyer: Jeff Krasnoff - Rialto Capital Management
- Buyer: Stephen A. Schwarzman - Blackstone
- Seller: Jeff Sutton - Wharton Properties
- Square Footage: 2,491
- Price per Square Foot: $3,439
The deal involved notable figures in the real estate industry, with Jeff Krasnoff and Stephen A. Schwarzman representing prominent investment firms, Rialto Capital Management and Blackstone, respectively. Jeff Sutton is associated with Wharton Properties, the seller in this transaction.
On the Map
$8,566,885
$3,439/SF
Condo
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Players
Brooklyn Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.85%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93