Petrolino Family Sells Multifamily Property At 140 Summit Street Brooklyn For $3.65M
SOLD
$3,650,000
+ 1
New York
See Similar DealsMultiFamily3,266 SF
Sold 10/21/2025
SOLD
Petrolino Family Sells Multifamily Property At 140 Summit Street Brooklyn For $3.65M
140 Summit Street
See Similar DealsMultiFamily3,266 SF
Sold 10/21/2025
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,117
Total Square Footage:3,266 SF
Transaction Type:Sale
The transaction involves a multifamily asset located at 140 Summit Street in Brooklyn. The property was sold by The Petrolino Family for $3,650,000. It comprises 4,562 square feet, resulting in a price per square foot of $800.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,650,000
- Address: 140 Summit Street
- Market: Brooklyn
- Square Footage: 4,562
- Price per Square Foot: $800
- Seller: The Petrolino Family
- Brokers: Miles Davis-Bosch, Frederick Richter, Patrick Madigan & Joseph Moran - Avison Young
The brokers involved in this transaction are Miles Davis-Bosch, Frederick Richter, Patrick Madigan, and Joseph Moran, representing the sellers, The Petrolino Family. They facilitated the sale process for the multifamily asset in Brooklyn.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$194,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,967.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,302.86
Annual Debt Service$207,634.35
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