Petrolino Family Sells Multifamily Property At 140 Summit Street Brooklyn For $3.65M
140 Summit Street
$3,650,000
$1,117/SF
Building Size
3,266 SF
Asset Type
MultiFamily
Closing
Oct 20, 2025
AI
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.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.35%
Cash-on-Cash
-1.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93