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Sugarhill Capital Acquires Multifamily Properties In Park Slope, BK For $31.2M

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SOLD
$31,200,000

New York

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MultiFamily55,860 SF
Sold 07/11/2019
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Property Image
SOLD

Sugarhill Capital Acquires Multifamily Properties In Park Slope, BK For $31.2M

136 Prospect Park West, Park Slope, Brooklyn, NY, USA

See Similar Deals
MultiFamily55,860 SF
Sold 07/11/2019
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$558
Total Square Footage:55,860 SF
Transaction Type:Sale

Two multifamily properties located at 136 Prospect Park West and 150 Prospect Park West in Park Slope, Brooklyn have been sold for a total of $31,200,000. The properties have a combined square footage of 20,562 at 136 Prospect Park West and 35,298 at 150 Prospect Park West. The sale took place on July 11, 2019, and the market for these properties was Park Slope, Brooklyn.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $31,200,000
  • Square Footage: 20,562 (136 Prospect Park W) & 35,298 (150 Prospect Park W)
  • Seller: Kenneth & Bradley Fishel
  • Buyer: Sugarhill Capital
  • Broker: Aaron Jungreis & Michael Guttman from Rosewood Realty Group NY

The sale of these multifamily properties was facilitated by Aaron Jungreis and Michael Guttman from Rosewood Realty Group NY. They represented the seller, Kenneth & Bradley Fishel, in the transaction. The buyer, Sugarhill Capital, acquired the properties for a significant amount. The deal showcases the involvement of key individuals and companies in this successful transaction.

Players

Aaron Jungreis
202 deals$4.3B volume(212) 359-9900
BROKER

Michael Guttman
Rosewood Realty Group
17 deals$174.9M volume
BROKER

Sugar Hill Capital Partners
BUYER

Kenneth Fishel
6 deals$173.1M volume
SELLER

Details

SOLD
IMAGE: Kenneth Fishel, Brad Fishel, Aaron Jungreis DATE: 07/11/2019 ADDRESS: 136 Prospect Park West & 150 Prospect Park West MARKET: Park Slope, BK ASSET TYPE: Multifamily SELLER: Kenneth & Bradley Fishel BUYER: Sugarhill Capital BROKER: Aaron Jungreis & Michael Guttman @rosewoodrealtygroupny SALE PRICE: $31,200,000 SF: 20,562 (136 Prospect Park W) & 35,298 (150 Prospect Park W)

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,663,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$110,847.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$147,903.92
Annual Debt Service$1,774,847.01